It's not just that it's bid up, it's that the govmnt has paternalized what sort of housing-should be legal. The housing that the poor could get back in the day

It's not just that it's bid up, it's that the govmnt has paternalized what sort of housing-should be legal. The housing that the poor could get back in the day is now illegal because it's "inhumane". There's regulations around square footage, fixtures, etc. Of course the "unintended consequence" is those people sleep in their cars or outside/tents, which is obviously worse than a shitty apartment that has a roof and walls. Maybe the closest thing to the old way is renting a room on Craig's list. But limited supply is also a big problem.