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Old 11-21-2017, 04:51 PM
 
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"The president of an employer group in California's Silicon Valley offered advice about housing to leaders in Oregon's Silicon Forest, where a 2016 study estimates that Washington County is at least 14,000 homes short for lower-income people."

Has the market (and capitalism) failed, or has government failed?
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Old 11-21-2017, 08:20 PM
 
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You can also add in as an option the people who earn entry level wages their entire life are also a possible contributor
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Old 11-21-2017, 09:13 PM
 
Location: Washington State
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Quote:
Originally Posted by freemkt View Post
"The president of an employer group in California's Silicon Valley offered advice about housing to leaders in Oregon's Silicon Forest, where a 2016 study estimates that Washington County is at least 14,000 homes short for lower-income people."

Has the market (and capitalism) failed, or has government failed?
The market is always going to react to fulfill demand. The failure is a complex and varied one including:
-Failure of parents to prepare the kids to compete in the labor market
- Failure of the educational system to prepare people for the new economy
- Failure of government to properly guide the economy with economic policy, wages, and taxes
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Old 11-21-2017, 09:54 PM
 
5,220 posts, read 2,375,434 times
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Quote:
Originally Posted by freemkt View Post
"The president of an employer group in California's Silicon Valley offered advice about housing to leaders in Oregon's Silicon Forest, where a 2016 study estimates that Washington County is at least 14,000 homes short for lower-income people."

Has the market (and capitalism) failed, or has government failed?
Your question presupposes that “somebody” has a responsibility to provide housing for low-income people.

The only failure is on the part of individuals who fail to adequately provide for themselves. When you not only expect but demand freebies, you have no right to complain if the freebies aren’t up to your “standards.”
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Old 11-21-2017, 10:00 PM
 
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Quote:
Originally Posted by Lowexpectations View Post
You can also add in as an option the people who earn entry level wages their entire life are also a possible contributor

Are those people sufficiently numerous as to be a significant factor? How many undocumented immigrants are in the county? Would the problem largely resolve if undocumented immigrants left?
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Old 11-21-2017, 10:10 PM
 
33,046 posts, read 20,708,082 times
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Quote:
Originally Posted by Tall Traveler View Post
The market is always going to react to fulfill demand. The failure is a complex and varied one including:
-Failure of parents to prepare the kids to compete in the labor market
- Failure of the educational system to prepare people for the new economy
- Failure of government to properly guide the economy with economic policy, wages, and taxes

It is painfully obvious that "the market" has NOT fulfilled demand. What do parents have to do with the failure of the private sector to meet housing demand? If parents had met your standards of preparing the kids to compete in the labor market, there would still be pretty much the same number of people competing for an inadequate supply of housing - and, quite possibly, bidding up rents even higher than they are today.

And who decides whether government 'properly guides the economy'? I believe that most homeowners DO NOT WANT additional and/or "more affordable" housing in their neighborhoods, i.e. I believe government is 'guiding' the supply of housing pretty much the way homeowners prefer.
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Old 11-21-2017, 10:21 PM
 
33,046 posts, read 20,708,082 times
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Quote:
Originally Posted by TaxPhd View Post
Your question presupposes that “somebody” has a responsibility to provide housing for low-income people.

The only failure is on the part of individuals who fail to adequately provide for themselves. When you not only expect but demand freebies, you have no right to complain if the freebies aren’t up to your “standards.”

My question presupposes only that, like nature, markets abhor a vacuum, and when there exists unmet demand for a product or service, the invisible hand of the market - somehow - meets that demand.

A market might meet demand at higher price or lower quality, but in this case, there is clearly a gaping shortfall in supply.

Or are people "rent-seeking" in an attempt to get something for free by maintaining an artificial shortage of housing? Talk about expecting freebies!
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Old 11-21-2017, 11:31 PM
 
5,220 posts, read 2,375,434 times
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Quote:
Originally Posted by freemkt View Post
My question presupposes only that, like nature, markets abhor a vacuum, and when there exists unmet demand for a product or service, the invisible hand of the market - somehow - meets that demand.

A market might meet demand at higher price or lower quality, but in this case, there is clearly a gaping shortfall in supply.

Or are people "rent-seeking" in an attempt to get something for free by maintaining an artificial shortage of housing? Talk about expecting freebies!
Why do think there is a shortage? Is it because the laws of economics have somehow been suspended, or could it be that something else is going on, and the economics is actually working just like it should?
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Old 11-21-2017, 11:43 PM
 
5,220 posts, read 2,375,434 times
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Quote:
Originally Posted by freemkt View Post
My question presupposes only that, like nature, markets abhor a vacuum

<Snip>
If a bird doesn’t build a nest, does the market step in and create some sort of low income housing for the bird?

Think before post, and you might not say such ridiculous things.
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Old 11-22-2017, 12:17 AM
 
Location: Future Expat of California
588 posts, read 259,574 times
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It's a government failure caused by corporate/capitalistic/elitist interests. The reason not enough low-income/moderately priced housing is not being built is because not enough incentives for it from the government side and capitalistic side of the equation. When zoning/planning changes by government either local or larger (state,federal) they are usually not to the benefit of the common man but those with the resources to dictate policy.

If today's policy were place in a post WW2 America in the late 40s through the 60s then the US would not be where it is in the world now in the world's current economic structure.
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