I suspect important drivers of home pricing are:
- Young people not getting married and starting a family right out of school, making average household size drop considerably
- Increased standards for construction and rental quality
- Everyone wants more space, houses are pushing twice the size they were 30+ years ago
I think these are more plausible than just zoning and cars. I'd guess those are only serious problems in a handful of very dense cities which are constrained geographically.
The household size issue will probably level out, you can't really go below 1. Lowering standards won't happen. But smaller homes might. Bring back starter homes.
This is leading to people running away from the city[1]
1. https://www.deccanherald.com/india/karnataka/bengaluru/techi...
The same. Canada's population grew by 3% last year but housing supply remains inelastic. Small developers have difficulty getting loans, zoning, NIMBYs sue projects, etc.
> I think these are more plausible than just zoning and cars.
It may be more complex than "just" zoning, but it's certainly more-so zoning than the conceit that people want larger houses. People want houses period.
I always liked the idea of more local taxes rather than federal. Then the larger tax base would improve services or do a direct transfer.
But the other thing is that density is only the solution if you insist people live in certain areas - the US has experienced tremendous growth in many time in history, and not all of them were handled by densification.
> This will probably never happen in the U.S
Thank god for that.
Maybe checkout in other countries like Canada, UK, France, Germany or even eastern europe, further in Asia on how they are doing on housing front. For sure they couldn't be having housing policies as bad as US.