You posted that, correct? Name one city in your list of highest rents, that is right-wing conservative free-market capitalist based?
Why don't you define "right-wing conservative free-market capitalist based" whatever?
Every city on my list has a vast majority of private, free-market, for-profit rental units which rich people like Silicone Valley millionaires manipulate in order to increase the size of their private, free-market fortunes.
Imagine if all those greedy, private landlords had to compete with an equal number of public rental units "owned" by those committed to making housing a human right instead of a speculative Ponzi scheme?
Well I kinda did. Houston doesn't even have zoning laws. You don't need to spend 3 years, and a million dollars, and have 10 different committees and community studies, and such, to build an apartment complex.
Let me give you another counter example. The socialist left-wing regulate until housing is unaffordable.
This guys is an average Joe, so he rambles and repeats himself a lot, and goes on rants.
But the bottom line is, he's a self-made entrepreneur, who works by fixing people's computers.
He wanted to build a small store, to run his repair business out of.
Skip to 8:00 in, and he talks about meeting a contractor. The contractor explains that instead of following all the regulation and restrictions, and bureaucratic nonsense... that (and this is the professional contractor, telling Louis the 30 year old trying to make a living) what he will do, is get permit for a fence. Put the fence around the building. Then do all the work. That way the building inspectors can't see what they are doing, and they can avoid years of waiting on paperwork, and thousands of dollars in permits.
You want to know why rents are insane in New York city? It's because of that. People can't build anything, unless they openly, brazenly, and directly violate the law.
Because it wasn't Louis who was trying to break all the regulations of New York City, it was the contractor himself, saying this is the only way to get the work done.
Again, Houston is the opposite, and then you wonder why a city with similarly massive populations, have a fraction of the housing and rental costs, and has a much much lower homeless rate?
It's obvious. The city engaging in free-market capitalism has free-market results. The cities engaged in socialistic regulation and restrictions all over the place, have socialistic results of poverty and homelessness.
Every city on my list has a vast majority of private, free-market, for-profit rental units which rich people like Silicone Valley millionaires manipulate in order to increase the size of their private, free-market fortunes.
And so does Columbus, and Houston, and Memphis, and Dayton, and so on.
Why are not the millionaires manipulating in order to increase the size of their private free-market fortunes in those cities as well?
Because they can't. Without government preventing new building of homes and apartments, with increased supply, prices remain low.
The only way that rich people, can drive up the price of housing, is if government prevents the building of new housing.
It doesn't matter how much property you own, if there are thousands of companies building new homes and apartments around you. There is no way that you can hold back the flood of new apartments and homes that would be built if you had unrestricted building.
How do I know that? Again, all the cities that don't have socialist regulations and controls on every aspect of the housing market, don't have this problem.
Imagine if all those greedy, private landlords had to compete with an equal number of public rental units "owned" by those committed to making housing a human right instead of a speculative Ponzi scheme?
Right, and we tried that. We had public housing in the 60s and 70s. They were a disaster.
And the fact is, the number of rentals actually declined.
As the government builds more apartments, the total amount of apartments fells, and dramatically.
So why is that? Well pretend you yourself own an apartment building, that is for lower income people. Now the government opens their own public housing apartment building, that offers apartments at a lower price.
Now, your tenants start leaving, because your price is higher than the public housing price.
So you will be forced to do one of four options.
Option 1. You can just keep your rent prices where they are, end up with few renters, end up going bankrupt, and losing your entire life's work, and have your family impoverished and on the street.
Likely you are not going to do that.
Option 2. You can lower rents, so you keep people in the building, but likely won't make enough money to cover the cost of maintenance, which results in the building ending up a slum. This is one of the ways you end up with slum lords, is by making it impossible for them to make a profit and keep the building maintained.
Option 3. You could actually renovate the building, into a luxury apartment complex. I've actually seen this done, specifically in NYC, where they demolished the walls inside the building, and converted 3 small apartments into one big apartment, or two larger apartments. Then because it's a luxury apartment, you can attract high income renters.
Of course that means that now you have lost thousands of living spaces, and you have pushed out the poor in favor of the rich... but that's what people do if you have the government get involved.
Option 4.... and this does happen specifically in NYC. You simply abandon the building. This is usually because the government put in place rent-controls, which make it impossible for you to convert the building from low-income renters, to luxury high income renters.
If you are faced with either operating the building at a loss... so that you end up destroying your life and losing everything, or simply abandoning the building.... you will abandon the building.
This is an abandoned apartment building, in the middle of Manhattan, in a city with a critical housing shortage.
Now why would anyone abandon a building in a city with people desperate for housing?
Wouldn't you want to make millions renting this out, if you owned it?
So why is the market not working? Two reasons, which already mentioned. One, because the amount of regulation and controls, and permits, would cost you a half million dollars to get this building back up to code.
Two.... this is a rent controlled building, so after spending that half million, you would never be able to rent it profitably.
So in city filled with homeless people, you have apartment buildings completely empty, surrounded by people desperate for housing.
So, as I said before, even you, if you owned an apartment building, likely be forced out of the market and end up reducing the number of rentals, because of government public housing.
And that's just the effect on you directly if you are the owner of the building.
The indirect effect, is that all the home and apartment builders, are going to stop building homes... at least for normal people. Again, if you can't make a profit on the building renting to normal people, why would anyone build apartments for normal people?
So instead they are going to build luxury apartments, if any. Luxury homes, if any.
Again, it's going to naturally push out the lower and middle class.
That's the effect of public housing.
California can’t end its housing crisis without an overhaul of zoning rules.
arstechnica.com
Take a look at this. Apple Computer, offered $2.5 Billion dollars, specifically for affordable housing. But then.... found out they simply were not allowed by law to make affordable housing.
The problem is that the law doesn't allow this in most areas. A
Los Angeles Times analysis
found that 62% of land in Los Angeles is zoned for single-family homes only. In San Francisco, 75% of the land is zoned not to allow anything denser than a duplex. Laws in suburban Silicon Valley are even stricter.
At the same time, the technology boom has put more and more money in the hands of residents associated with the technology sector. So more and more dollars are chasing housing, while the supply of housing has barely increased from year to year.
Does that sound like "free-market capitalism" to you? No, because it isn't.