BTW, housing rents in Australia in May rose 7.5% on year.
In the span of a generation, Canada and Australia became places where ordinary middle-class people used to thrive...but became expensive and social fractious nations.
Longshot solution: The federal government bribes cities into de-zoning.
That is, the federal government provides payments, based on zip-code density, for un-zoning property. Maybe some sort of bonus for actual units constructed in dense areas, or formerly single-family detached zoned areas.
I can't imagine residents of single-family detached areas ever agreeing to high-rise condos with ground floor retail in "their" neighborhood. Or, supporting policies that will, through greater supply, lower the value of their homes, their largest investment.
But local governments are in need of money. Pension systems will bankrupt many cities and counties. So maybe officials can be "bribed."
I have more cheery thoughts, but that is enough for one day.
Probably, although higher residential property values, and thus property tax collections, result.
Also, some cities have shoved lower-income people out, such as Los Angeles, which might reduce crime rates and costs. Fewer children equals less outlays for schools.
BTW, housing rents in Australia in May rose 7.5% on year.
In the span of a generation, Canada and Australia became places where ordinary middle-class people used to thrive...but became expensive and social fractious nations.
Erdmann gets it.
IMHO very solid commentary.
Longshot solution: The federal government bribes cities into de-zoning.
That is, the federal government provides payments, based on zip-code density, for un-zoning property. Maybe some sort of bonus for actual units constructed in dense areas, or formerly single-family detached zoned areas.
I can't imagine residents of single-family detached areas ever agreeing to high-rise condos with ground floor retail in "their" neighborhood. Or, supporting policies that will, through greater supply, lower the value of their homes, their largest investment.
But local governments are in need of money. Pension systems will bankrupt many cities and counties. So maybe officials can be "bribed."
I have more cheery thoughts, but that is enough for one day.
If they could be bribed, they would already allow more building. The worst cities already give up a lot of $ in order to obstruct building.
Probably, although higher residential property values, and thus property tax collections, result.
Also, some cities have shoved lower-income people out, such as Los Angeles, which might reduce crime rates and costs. Fewer children equals less outlays for schools.