newcomers who have to pay outrageous prices for houses, while it is existing homeowners who vote for laws and policies that drive up housing costs by obstructing the building of new homes.You might want to read the whole thing.
Those who already own their own homes are not hurt by soaring housing prices. In fact, they benefit when the value of their homes becomes several times what they originally paid for them.
Given this situation and these incentives, it is easy to understand why such things as planning commissions, "open space" laws and "historical preservation" policies proliferate. These road-blocks to building are essentially idealistic-sounding ways of being completely selfish.
Tuesday, August 30, 2005
The War against average Americans
Thomas Sowell describes how land use restrictions are not good for average Americans: