Major California housing bill dies in first committee hearing - Polidicks

https://www.mercurynews.com/2018/04/17/major-california-housing-bill-dies-in-first-committee-hearing/ Fuck the poor basically Just four of the 13 committee members, including the bill’s two main authors, Sens. Scott Wiener, D-San Francisco, and Nancy Skinner, D-Oakland, supported the proposal. tfw california has a lot of good jobs and perfect weather but ur doomed to waste half ur income on rent or get CV disease and depression from long car commuting

Haven't you heard? Housing causes cancer in California.

Man they love to act like they care so much until it comes time to do something!

It sounds like a horrible bill. I'm glad they blocked it. A huge portion of the housing cost issues in California comes down to restrictive regulations already. They should fix those, not add more regulations.

.... like what this bill does?

The right regulations and the right incentives make a good mix. Have too much, or not enough or just the wrong kind of regulations and it goes down the shitter.

That would be progressive politics in general. It's far easier to talk a big game until it actually makes you have to do something or lose your precious twitter time cause you're actually having to work to get social shit advanced. You'll find most millenials and boomers don't get along, cause they're pretty much the same side of the same coin, lots of big talk and grand magnanimous ideas, not much action that will actually change the status quo or result in temporary adversity for a better future.

This bills adds additional regulations by forcing local communities to build higher density residential buildings in certain areas.

I wonder what those communities are using to stop developers from building housing, can't be regulations.

If I have to choose, I would favor local regulation over state regulation any day. At least the local government has a tiny bit of a concern for their own community.

Usually, yeah, this sort of thing is the domain of local government. But in this case, the local regulations have proved exceptionally harmful, and are backed by NIMBYs with cancerous and short-sighted motivations, hence the state intervention.

California is a liberal dystopia. Source: Am California liberal.

What if that regulation was written by property owners to shut out new blood so that their own investments continue to grow to create an artificial bubble sustained by artificial scarcity?

Uh you realize politicians have a vested interest in sabotaging progressive ideals, right?

Yup. Socialist policies hurt people with significant wealth. Politicians are bought by those people with wealth. So only politicians not bought by people with wealth (Sanders, etc) actively pursue said policies.

Politicians ARE those people with wealth. Their kids aren't going to public school.

Rent control is the enemy. It de-incentivizes development and encourages stagnation of older, lower-density housing.

The only people who say this are people who benefit from lack of rent control. Rent control works so long as it still makes financial sense to rent to people under rent control. If California removes the restrictions on new buildings and reduces the costs of permits it'd make complete sense to rent to people in a controlled market like that.

The economic literature pretty handily disagrees with you Well, with the exception of if you already have a home before rent control policies come in and freeze your prices. But much like what's happening in the OP with restrictive zoning laws, it's bad for pretty much everyone else. (Also long-term theoretically it may encourage landlords to let apartments dilapidate and whatnot, but idk if this has been proven.)

NYC is about as much empirical proof as anyone should need. It's not profitable to manage rent controlled apartments that aren't slums. Rent controlled areas in NYC are pretty consistently dumpster fires as a result.

As more and more people leave the state due to the insanely high housing costs they will regret that this wasn't passed.

Fuck no, the people that say this are looking back at the historic massive failures of rent-controlled properties in New York City and the many, many other massive failures of price control. When you introduce price controls, you fuck up the core market concept of price adjusting to meet demand, which results in huge shortages.

Rent control is a risky treatment for a symptom, not even the problem. The problem is basic supply and demand is not being met resulting in a bubble. There is plenty of demand, but supply is artificially low, because low supply means high property values.