Explanation as always:
Before we can go about building housing, we first have to buy and use land. Unfortunately, due to issues like land speculation and overly-restrictive zoning, as well as taxing the work and investment that goes into building housing, our ability to buy and use our land is heavily constrained and so too is the amount of housing we get. The housing constraint starts in our tax regimes prioritizing landowners over labor and capital and our laws preventing people from using their land effectively (barring health and safety conditions of course but current law has far overstepped this), and ends when the reverse is true.
For more about this, Greg Miller of the Center of Land Economics wrote a great article about how our housing crisis is actually a land crisis.
This article was originally published in The Daily Renter, and was republished with permission. Find the original content at thedailyrenter.com.
Meme of the Week: Don’t forget, more homes starts with better land policy
