At last, someone from the world of politics is being honest about a pervasive and harmful trade-off. When home prices rise faster than earnings, owners like me gain wealth, while non-owners lose because their incomes fall further behind housing costs.
Honesty is saying that home prices have to fall. But this is progress.
The Generation Squeeze folks have recommendations.
That’s not a bad thing. More units is more units. People need shelter. Not everyone wants to buy a house to get it. If we can build enough rental units to get the supply up, it will reduce the price of “substitute goods” like other types of housing. Plus, density is far more sustainable to build.