The issue is 100% that we make it very hard to build in the areas that have highest demand.
It is not short-term rentals, it is not individuals owning too many houses, it is not rich people moving in to a neighborhood, it is not Chinese money fleeing the PRC, and it is not private equity "commodifying" housing.
It is that we suppress the construction of housing through to byzantine permitting, incredibly harsh zoning, vetocracy, and overburdening regulation.
This shortage is at the core of so many of our woes, homelessness being the most visible, but it really underscores _the entire economy_.
It is not short-term rentals, it is not individuals owning too many houses, it is not rich people moving in to a neighborhood, it is not Chinese money fleeing the PRC, and it is not private equity "commodifying" housing.
It is that we suppress the construction of housing through to byzantine permitting, incredibly harsh zoning, vetocracy, and overburdening regulation.
This shortage is at the core of so many of our woes, homelessness being the most visible, but it really underscores _the entire economy_.
I created some slides over a year ago to present to friends and colleagues how I view the problem, you can peruse at your leisure: https://docs.google.com/presentation/d/1O1_oW0Ci2SJEIIhXzuzV...