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It's primarily housing costs, which are driven by * Expensive, scarce land * High construction costs * Rampant NIMBYism To some degree, we dug ourselves int
by davidw 4y ago
It's primarily housing costs, which are driven by
* Expensive, scarce land
* High construction costs
* Rampant NIMBYism
To some degree, we dug ourselves into that mess, and can dig ourselves out if we work at it.
- hnburnsy 4y agoDon't forget property taxes partially driven by political choices.
- davidw 4y agoThose are just 'messed up' in California. For some people they're quite low. For the house next door, maybe they are 10 times as much. Property taxes are actually higher in many states because they're not capped. Which in many ways is as it should be so that homeowners share in a bit of the pain from rising prices.
- pydry 4y agoProperty taxes also help keep a lid on rising prices.
- iancmceachern 4y agoAnd it causes weird incentives, like keeping land empty and undeveloped, etc.