Posted 12/28/2023, 4:30:17 PM
California Takes Steps to Boost Housing Supply Amid Shortages and High Demand
- California has "aggressively paved the way" for more housing supply by relaxing zoning laws that prevented construction
- There is a "supply and demand" problem - if governments "let builders build" it would help address the housing crisis
- Shortages of land, lumber, and labor are also contributing to the lack of housing supply similar to the UK
- Migration is further increasing demand for limited housing
- Putting rent caps in place discourages construction of new housing, worsening supply issues
