Who's to blame for Portland's soaring home prices?
Who would have guessed that highly limiting developable land resulting in a supply shortage would cause a price surge in the face of strong demand. Well, except for anyone with even a rudimentary understanding of first year economics.
Ignoring the Reality of Growth Constraints | The Antiplanner
The boundary restricts supply, drives up price, drives wealth into the pockets of the Boomers, and costs Millennials huge sums to buy property.
More after the break.
What Happens When There’s Nobody Left to Move to the City? | Newgeography.com
Renn notes that many cities are simply sucking the young adults out of the rural areas and into the cities. This is a quandary for the rural towns, but another quandary is what happens to the cities a few years after that?
More below the fold.
Finally! Great New Affordable Bay Area Housing! | Newgeography.com
This is a brilliant way of reducing housing costs, not new, but brilliant. How long before all the Tech companies find this out? Apple seems to have missed this one, as it is finishing up on it's new office spaceship, in Silicon Valley. But we think that there is a great rift going on today, between the old tech which first arose in the 1980s, and the New Tech which is trying to make inroads today. Much of the New Tech especially in space tech, is locating in Texas, and other locations. We expect this will continue, and as it builds it could become the new model.
We shall see.
Here in the dizzy dystopia of Portlandia, the urban, and transportation planners that know unaffordable housing is caused by low density, and lack of rail transit.
Are Compact Cities More Affordable? | Newgeography.com
Because requiring 10 to an apartment, and outlawing cars would likely drive down housing prices!
More after the break!
What Capital Controls? Chinese Buyers Flood US Real Estate Market With $110 Billion
. . . Maddog agrees with this assessment. Maddogsbrer does not. He is smarter and better looking, go figure.
Read more below!
Doug Ross @ Journal: OUR FEDERAL HOUSING VOUCHER PROGRAM: The Poverty Creator
. . . last time we found that government antipoverty programs create poverty. This time we will find out that government housing assistance programs create poverty. I'm detecting a pattern.
This Is Where America's Runaway Inflation Is Hiding
. . . an event which deeply hurts the poor, and lower middle class.
Don't worry, our local governments are not going to change course just to help keep our poor out of the poor house, No siree!
Our local governments will stick to their destructive zoning, growth, and services boundary laws regardless of the consequences for the poor, the lower class, and even the middle class. Just take a look at San Francisco where you will see anyone earning less than $200,000 is pretty much boxed out of the home ownership racket.
Rental inflation is driven by a lack of developable land proximate to where people would like to live. This is commonly a false problem driven primarily by zoning and land use laws.
Boomer versus Millennial Wrestling World Smackdown, Portland is out ahead, but Seattle is running a close second!
Increasingly most of our economic problems are driven by economically incompetent government policies. Perhaps it is time for a change?