Golden Statements - Alex Padilla's Housing Plan is Tired and Outdated

But it is not an outlier in Democratic thought

Housing is too expensive. Whether it’s renting or owning, basically everyone across the political spectrum can agree on this basic fact. Differences arise when you ask, “why is housing expensive?” and “what can be done to fix it?”

Parts of the political Right will tell you that the problem is immigrants coming into housing markets and pushing up the prices by increasing demand.

Parts of the political Left will tell you that the problem is greedy landlords, “luxury” apartments, and private equity companies buying controlling stakes in the housing market, “controlling” in this case apparently meaning 2% of all single family homes and 2% of all rental properties.

For people affiliated with the YIMBY movement, which spans the ideological spectrum, the problem is multifaceted and complex. But the general consensus will point to regulations that make it hard if not impossible for both the public and private sectors to build. Zoning requirements that make it illegal to build homes in the quantity that are needed to tackle supply shortages. Inclusionary zoning mandates that allow builders to construct housing units, but only in ways that cause them to effectively lose money in the process. Permitting processes that allow unrepresentative minorities to slow down the process of building needed homes. These all share a portion of the blame for why America has failed to build millions of units needed to house its population.

But what does Alex Padilla, the senior senator from California, think is the cause and solution to the housing issue?

Golden Statements is the Substack of the Bay Area New Liberals.

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