Quote:
Originally Posted by CaliNative
The need of existing NIMBY homeowners for massive profits is trumped by the need of younger people for affordable housing. Like a monopolist trying to keep prices high by blocking competition. Pure self-centered anti-social "rent seeking" behavior.
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I'm not saying that CA's housing market is efficient or just, I'm simply saying it works very well for CA homeowners. Most people are self-interested and so probably don't see a problem.
I also think there's an argument that covering the coast in high density would be irresponsible, and would lower the quality of life for all Californians. The CA coast is 100x better than, say the FL coast, largely because of land use restrictions. Treasured places like Torrey Pines and Crystal Cove wouldn't exist without NIMBYs and heavy govt. regulation.
Also, the U.S. is a huge country where you can achieve a high quality of life in dozens of major metros. Not clear why you need to sacrifice some of the most beautiful and distinct parts of the country upon an altar of "this must be as cheap as Columbus or there's a problem". People who want cheap, big homes with poor long-term valuation, and laissez-faire regulation, already have 80% of the country.