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The truth is that property owners vote to keep their neighborhoods the way they are when they purchase the property. They don't want to change anything, because they don't want to live in the slum situation you seem to dream of.
IOW, homeowners voted for the supply controls that make renting so expensive.
That may (or may not be) the consequences, but that is not the intent. Homeowners don't care one bit about how much rentals are. They just want to protect the neighborhood that they bought in to.
I can guarantee that if you came in to my neighborhood, that is zoned minimum 1/3 to 1 acre lots (each street is different), with most being double or triple that, and wanted to cut it up in to 1/16 acre or less, I would put up a huge stink. Not because I want that rental down the street to get a good price, but because I bought the house I live in specifically because I want space around me. I don't want to look out my window and see 30 houses where I used to see 3, just because some loser that can't get out of their minimum wage existence has decided that he wants to live where he wants, at the price he's decided to is "fair". Nope, not going to happen.
I lived that way for 6 months, when I rented after moving here. I don't want to live that way, which is why I made it a priority to purchase a home in an environment that I prefer. If I can do it, with no college degree and being a woman, there's no reason you can't.
The truth is that property owners vote to keep their neighborhoods the way they are when they purchase the property. They don't want to change anything, because they don't want to live in the slum situation you seem to dream of.
IOW, homeowners voted for the supply controls that make renting so expensive.
Now always true... when more voters are renters you get rent control.
That may (or may not be) the consequences, but that is not the intent. Homeowners don't care one bit about how much rentals are. They just want to protect the neighborhood that they bought in to.
I can guarantee that if you came in to my neighborhood, that is zoned minimum 1/3 to 1 acre lots (each street is different), with most being double or triple that, and wanted to cut it up in to 1/16 acre or less, I would put up a huge stink. Not because I want that rental down the street to get a good price, but because I bought the house I live in specifically because I want space around me. I don't want to look out my window and see 30 houses where I used to see 3, just because some loser that can't get out of their minimum wage existence has decided that he wants to live where he wants, at the price he's decided to is "fair". Nope, not going to happen.
I lived that way for 6 months, when I rented after moving here. I don't want to live that way, which is why I made it a priority to purchase a home in an environment that I prefer. If I can do it, with no college degree and being a woman, there's no reason you can't.
You realize, of course, that large-lot zoning of a finite land area necessarily means that your ability to have what you want precludes others from having that they want - unlike widgets where your widget doesn't stop me from acquiring a widget.
I don't want high density and I don't particularly want more or fewer rentals, just enough space to have a sense of some control over my living environment, which I can't get with seven people sharing a crowded house with one bathroom.
Now always true... when more voters are renters you get rent control.
That is precisely why landlords always run to the legislature when they feel threatened by talk of rent control - there is no state with a majority of renters, let alone with a renter majority of voters.
Once you get the legislature to prohibit rent control statewide, rent control is pretty much off the table for the foreseeable future.
I wasn't there, but I'm going to guess that landlords were not in a politically favorable position after Prop 13 passed and rents kept rising. Specifically, Howard Jarvis was absolutely in no position to lead an opposition to rent control, and I presume he didn't even try.
If you're OK with the US looking more and more like a Latin American country, with nice little favelas dotting the landscape, then it is no big deal...
Is this the economics forum or an extension of the politics and controversies?
Unfortunately, our politics and economics are so intertwined you can't tell where one ends and the other begins. Exactly what our Founding Fathers didn't want to happen and the reasons for that should be abundantly clear no matter where one falls on the political spectrum.
You realize, of course, that large-lot zoning of a finite land area necessarily means that your ability to have what you want precludes others from having that they want - unlike widgets where your widget doesn't stop me from acquiring a widget.
I don't want high density and I don't particularly want more or fewer rentals, just enough space to have a sense of some control over my living environment, which I can't get with seven people sharing a crowded house with one bathroom.
I will defend the principles that people should be able to make enough to put a roof over their heads and have food to eat, however, when it comes to living where this person lives (1/3 to 1 acre zoning), you have to earn that. Get educated, start a business, do what is necessary to move up the ladder.
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