Or we could stop making it so painfully expensive and risky to try and build housing.
NIMBY policies have broken the traditional boom and bust cycles of housing in California that used to ensure there was enough housing for everyone.
It used to be that when demand was outrageously high, it'd start a housing boom where builders would start reinvesting profits from building higher-end places into building more and more until they'd overbuilt. Wealthier people would move to newer places freeing up stock for everyone else. During the bust, you'd have even more people upgrading as prices reset.
LA seems to be experimenting with suspending some of the anti-building policies which is certainly good, but they're still stuck on this idea that it should only be for below market-rate housing - as if the laws of supply and demand don't exist.
NIMBY policies have broken the traditional boom and bust cycles of housing in California that used to ensure there was enough housing for everyone.
It used to be that when demand was outrageously high, it'd start a housing boom where builders would start reinvesting profits from building higher-end places into building more and more until they'd overbuilt. Wealthier people would move to newer places freeing up stock for everyone else. During the bust, you'd have even more people upgrading as prices reset.
LA seems to be experimenting with suspending some of the anti-building policies which is certainly good, but they're still stuck on this idea that it should only be for below market-rate housing - as if the laws of supply and demand don't exist.