America Has Used Cars. Why Not Used Housing?
“Housing policy in America is broken. Since 2000, there’s been an estimated shortage of 7.3 million units, a result of government regulations preventing new supply. Two political forces drive this phenomenon. One is pure Nimbyism (Not-In-My-Back-Yard-ism), namely by existing homeowners who don’t want the competition of new development. The other is from renters, who would benefit from new development, yet sometimes align with homeowners and resist it. Because said housing is not immediately affordable for this latter group, they don’t believe it is useful, and think it may even worsen gentrification in their neighborhoods”