As rents soar in many parts of the country, government officials and housing advocates are increasingly looking to rent control—caps on what landlords may charge—to moderate prices. However, rent control ignores a basic principle of economics. One of the fundamental principles of economics is the law of supply and demand. This principle holds that if…
Across the nation, individuals want to live closer to the central city. They want easy access to restaurants, retail stores, and entertainment. They want shorter commutes to work and “walkable” communities. In response to this growing demand, developers and entrepreneurs are investing in neighborhoods, many of them impoverished, near the central city. As these investments…
Housing vouchers are a subsidy provided by the federal government and administered by local government housing officials. Vouchers allow low-income families to obtain better rental housing than they could otherwise afford. However, many landlords do not accept vouchers. Housing advocates say that “source of income” discrimination should be outlawed and landlords should be required to…
For a century, zoning has been used to segregate “incompatible” land uses. In most cities, each area of the city mandates that land be used for residential, commercial, or industrial purposes. And in most cities, much of the land (often over 60 percent) is zoned for single-family homes. Defenders of segregating land uses have long…
Across the nation, low-income families face a severe shortage of affordable housing. (Housing is considered affordable if it consumes 30 percent of less of a family’s income.) While there is widespread agreement that a problem exists, there is little agreement on the proper solution. Indeed, many of the proposed solutions conflict with one another and…
Progressives are particularly adept at presenting proposals with lofty goals. And those proposals almost never work out as promised. To Progressives, good intentions are more important than good results. A recent article on CNN’s website illustrates this point. The article notes that the nation has a severe shortage of housing for low-income families. This, the…
A political controversy between housing advocates and construction labor unions has been brewing in California. These two groups generally agree on many political principles, and their disagreement over a proposed bill might confuse some. But the fact is, the very nature of those political principles makes such disagreements inevitable. Both housing advocates and labor unions…
In her epic novel, Atlas Shrugged, Ayn Rand dramatizes a world in which producers go on strike. Rand once commented that part of her motivation for writing the novel was so that it wouldn’t come true. Sadly, it is coming true and often in ways that few will notice. In the novel, government enacted a…
Progressives can easily find themselves facing a conflict of values. On the one hand, they support efforts to build affordable housing for low-income families. On the other hand, they don’t want that housing near their own home. It’s a classic example of NIMBYism (Not in My Back Yard). This conflict results from altruism. Altruism holds…
Like many cities across the nation, Olympia, Washington is facing a shortage of affordable housing for low- and moderate-income families. The city council is currently trying to figure out how much money it can extort from developers before it kills the golden goose. Of course, the city council isn’t wording it quite that way. In…
City officials in Charleston, South Carolina want to pay homeowners to build accessory dwelling units (ADUs) on their property. Relaxing zoning regulations that limit or prohibit ADUs, also called granny flats or mother-in-law suites, is one way many cities are addressing the shortage of affordable housing. Ending the prohibition on ADUs is a proper step….
Progressives in Washington State are applauding recently passed laws giving tenants expanded “rights.” The laws include greater restrictions on the ability of landlords to evict tenants, the right to counsel during evictions, and a requirement that landlords offer a “reasonable” payment plan for tenants who are behind on their rent. Despite the rhetoric of Progressives,…