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I agree with you wholeheartedly, while I'm a markets-first person in general, either the city itself needs to build the housing itself, or it needs to reduce th
by Aloha 7y ago
I agree with you wholeheartedly, while I'm a markets-first person in general, either the city itself needs to build the housing itself, or it needs to reduce the cost and difficulty of getting permits so the market will work. The reason we're in this boat is because the existing locals are rent-seeking, and don't want to live in a denser city - which causes a crisis elsewhere, because the people keep coming.
In general, West Coast Cities seem to have this idea, that if you ignore the problem of insufficient housing - be it the symptoms (high rent, no affordable units) or the causes excessive permitting costs/lengthy approval times and restrictive zoning, it'll just go away. There are prosperous bustling big cities without housing affordability issues, they build housing, either in the city, or in nearby suburbs.
The reality of it is people are moving there whether they like it or not. Seattle has had 20 years of almost continuous growth, with little housing expansion, and almost no affordable units (compared to growth. it can't pretend to be an ocean liner, and pull up the gangplanks and go "oh, sorry, we're full now, maybe you should try Portland? best of luck to you!"