this post was submitted on 03 Sep 2024
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urbanism
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It's not the lack of housing
It's the capitalism
Put a pin in that
I mean, it’s both. The capitalism is definitely a problem but ultimately the vacancy rates in most of the US, especially major cities, are too low. There isn’t enough housing in the places it’s needed.
Just comparing US cities, which all have the capitalism problem, cities with higher vacancy rates have lower rents and lower rates of homelessness.
The capitalism is causing the lack of housing.
Fr. Capitalism incentivizes homeowners to block new housing because they want to "protect their investment" and that's how we got high rents.
That is not an example of market capitalism. It's an example of regulatory capture by homeowners: capitalist developers would like to build more housing, but homeowners cause the local government to block this.
With housing, we are in an unusual circumstance where both less government intervention (let people build more housing) and more government intervention (build public housing) would be better than the status quo.
agree!!! there's plenty of housing available RIGHT NOW but the rock all have to have 5 houses each. scum.