In the Shadows of America

For those who believe that a ‘housing crisis’ means that the price of housing is not going up quickly enough: this is why smaller, less expensive units need to be permitted in our land use codes. Addressing this problem is more important than protecting the ten-fold returns on investment that people are expecting to reap on properties that they purchased when Jimmy Carter was in office. Would a supply of more, cheaper units solve all of the housing problems described in this story? Maybe not. But it would begin to alleviate the stress on the population that is employed in entry-level positions, and whose wages do not overcome the structural failures of bizarrely distorted real estate markets. I mean, seriously, what kind of a society allows this to happen to young people who are just starting out? It’s a disgrace.