CALmatters commentator Dan Walters comments that “legislators lift the red tape imposed by the law for sports arenas, but not for housing.”
I often hear the high cost of housing described as a crisis, as if a recent change caused housing prices to rise.
But it’s not new or sudden; The California Environmental Quality Act passed in 1970.
And Proposition 13 passed in 1978, ensuring that landowners aren’t penalized in property taxes by the artificial value rise their house experiences when we constrict the market with regulations.
This isn’t a crisis. It’s the long-term politics of land ownership in California. The shortage benefits existing landowners, as well as those with the means to buy in. It’s on purpose.
It’s not hard to lift red tape, build more houses, and lower prices — if your house is a sports arena.