Originally posted by simplicio
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Several factors have together caused severe constraints on the construction of new housing: community involvement in the permitting process allows current residents who oppose new construction (often referred to as NIMBYs) to lobby their city council to deny new development; environmental laws are often abused by local residents and others to block or gain concessions from new development (making it more costly or too expensive to be profitable); greater local tax revenues from hotels, commercial, and retail development vs. residential incentivize cities to permit less residential; density restrictions (e.g. single-family zoning) and high land cost conspire to keep land and housing prices high; and construction costs are greater because of high impact fees, and often developments are only approved if union labor is used.
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But starting in 1970, three major forces caused housing prices to increase dramatically: increased concern for the environment, (which led to environmental laws and designating land for preservation and not development), land use restrictions limiting housing density (zoning many areas to single-family homes, or to at most two stories), and community involvement in the development process (which allows current—but not future—residents a say in land use decisions.)
https://en.m.wikipedia.org/wiki/Cali...using_shortage
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But starting in 1970, three major forces caused housing prices to increase dramatically: increased concern for the environment, (which led to environmental laws and designating land for preservation and not development), land use restrictions limiting housing density (zoning many areas to single-family homes, or to at most two stories), and community involvement in the development process (which allows current—but not future—residents a say in land use decisions.)
https://en.m.wikipedia.org/wiki/Cali...using_shortage
So, large population jump + large job creation + laws and regulations, curbing housing development = housing crisis.
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