Item # 6,517,042:

Sowells monthly rant on California’s interference with the housing market.

Posted at 06:01 pm by Johnny B

Posted by BP @ 06/03/2005 12:16 AM PDT
Sowell makes a good point at the obvious disconnect between strict zoning laws and “affordable” housing; however, the “anti-growth” view has its merits. In the Northern VA (DC Metro) area, prices are skyrocketing as well, and one of the fastest growing counties in the nation (the county in which I just bought a home) is poised to double in population within the next twenty years or so. The challenge …is that the people just moving in can have the tendency to think “anti-growth” because more development takes away from the reasons that they moved into the area in the first place.

Their logic (and part of me tends to agree) is, “If I am already paying an exhorbitant amount of money for a property, I’ll be damned if I let myself be surrounded by 100,000 ‘affordable’ condos.”

Just a thought.

Posted by JohnnyB @ 06/03/2005 12:25 AM PDT
I just want the bubble to burst in California so I can get a house cheap. The good news about all these skyrocketing home prices is that all the eventual foreclosings ought to come up fairly soon. How’s that for optimism?
Government power reduces social mobility
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