Wealthy boomers control politics and wealthy boomers (mostly - a portion but obviously not all - of the first half of their generation years-wise) own housing.

Wealthy boomers control politics and wealthy boomers (mostly - a portion but obviously not all - of the first half of their generation years-wise) own housing. Why would they want to allow their rental incomes to decrease or their home values to decline by allowing new housing to be built? They are the me-me-me generation after all. Anything they can do to set the future on fire in order to maximize their returns while they live, they will do. Whether that's bail out failing businesses with government-owned debt that future generations (including their grandkids) have to pay back or destroy the planet and environment. The only solution is to get younger people to vote or to wait for them to die.