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Ironically, that quoted excerpt inserted its own "convenient boogeyman" of housing undersupply caused by local opposition. Also, institutional investors do hav

Ironically, that quoted excerpt inserted its own "convenient boogeyman" of housing undersupply caused by local opposition. Also, institutional investors do have a reputation for inciting bubbles and that possibility absolutely needs to be carefully scrutinized, particularly for something as essential and socially compounding as housing.

ertian 5y ago
Not everything is just a "convenient boogeyman": some things actually do contribute more to housing costs. If you drive through any major American (or Canadian) city outside of the core downtown area...it's pretty clear _something_ is preventing large developments. If you drive through the Bay Area, or stand on a 4-storey "high-rise" and look out over miles upon miles of aging bungalows, and consider the value of the land they're sitting on, it's really a bit shocking. And if you look into adding a suite for rental to your house, it'll be pretty clear what the barrier is to new development. It basically doesn't matter where you are in the country. Local zoning really does play a huge role in housing cost in North America.
davidw 5y ago
It's not "convenient" though. People desperately want to believe that there is some remote "other" that is causing the problems, not their otherwise kind, friendly neighbors. And yet, at every hearing I've attended about housing, ever public comment period for a project, it is my "neighbors" opposing the homes. The editorials in the local paper about how re-legalizing fourplexes would lead to (I'm paraphrasing) "those people" living in your neighborhood are not from wall street bankers, they're from people I've met who live here.
- im3w1l 5y ago
  If you want to sort out this problem then you will need to address the concerns about "those people". There are some very real concerns that people have. Violence. Drugs. Noise. School quality. People want a good environment in which to bring up their kids and these are all crucial. Fortunately they could be solved in other ways than expensive housing. Unfortunately people have a very justified fear that they wont be.
  - davidw 5y ago
    Mostly it's not justified, just racism.

ertian 5y ago

Not everything is just a "convenient boogeyman": some things actually do contribute more to housing costs. If you drive through any major American (or Canadian) city outside of the core downtown area...it's pretty clear _something_ is preventing large developments. If you drive through the Bay Area, or stand on a 4-storey "high-rise" and look out over miles upon miles of aging bungalows, and consider the value of the land they're sitting on, it's really a bit shocking. And if you look into adding a suite for rental to your house, it'll be pretty clear what the barrier is to new development. It basically doesn't matter where you are in the country. Local zoning really does play a huge role in housing cost in North America.

davidw 5y ago

It's not "convenient" though. People desperately want to believe that there is some remote "other" that is causing the problems, not their otherwise kind, friendly neighbors. And yet, at every hearing I've attended about housing, ever public comment period for a project, it is my "neighbors" opposing the homes. The editorials in the local paper about how re-legalizing fourplexes would lead to (I'm paraphrasing) "those people" living in your neighborhood are not from wall street bankers, they're from people I've met who live here.

im3w1l 5y ago
If you want to sort out this problem then you will need to address the concerns about "those people". There are some very real concerns that people have. Violence. Drugs. Noise. School quality. People want a good environment in which to bring up their kids and these are all crucial. Fortunately they could be solved in other ways than expensive housing. Unfortunately people have a very justified fear that they wont be.
- davidw 5y ago
  Mostly it's not justified, just racism.