I'm not sure what church door in Phoenix you nail your thesis to--we have some in Boston that haven't been converted to condos yet, but the current mayor is going all-in on inclusionary requirements for developers, so we're doomed.
The mortgage suppression problem post-dates the zoning restriction problem, which makes me wonder if the path out of this is to build enough large-scale rental housing to absorb housing demand and eventually exert corrective pressure on overpriced used homes. That would entail doubling unit starts in the multi-family sector---which is probably beyond production capacity for another decade.
I'm not sure what church door in Phoenix you nail your thesis to--we have some in Boston that haven't been converted to condos yet, but the current mayor is going all-in on inclusionary requirements for developers, so we're doomed.
The mortgage suppression problem post-dates the zoning restriction problem, which makes me wonder if the path out of this is to build enough large-scale rental housing to absorb housing demand and eventually exert corrective pressure on overpriced used homes. That would entail doubling unit starts in the multi-family sector---which is probably beyond production capacity for another decade.
We can fill the gap in the mean time with build to rent single family units, but the public is so eager to kill that that I doubt it will go far.