Please, right now, go check out this column by Thomas Sowell.
Suffice to say, he nails it about the root cause of housing UN-affordability in the San Francisco area:
Housing prices in San Francisco, and in many other communities for miles around, were once no higher than in the rest of the United States. But beginning in the 1970s, housing prices in these communities skyrocketed to three or four times the national average.
Why? Because local government laws and policies severely restricted, or banned outright, the building of anything on vast areas of land. This is called preserving “open space,” and “open space” has become almost a cult obsession among self-righteous environmental activists, many of whom are sufficiently affluent that they don’t have to worry about housing prices.
Food for thought for the rest of the nation….
This entry was posted in Industry News
and tagged affordable housing
. Bookmark the permalink