Who’s responsible for the dramatic rise in Housing costs?

[Mick]

Gavin Newsom says that Donald Trump is responsible, and it’s true that the peak cost happened on Trump’s watch. But the massive runup, the actual increase happened between 2021 and 2024 — during Joe Biden’s presidency.

Gavin Newsom blames Trump for housing costs using chart showing massive increase under Biden

Nice try, Gavin. I knew math is hard…

[Beeg_Dawg]

Newsome is basically a Stepford Democrat.  Any question asked, the answer is blame Trump.

Seattle progressives might have the answer to high home prices.  Increase taxes and fees to the point where home owners are leaving and no one is moving in.

Can you say supply and demand?  Lots of inventory, low demand, prices fall.  Real dilemma for a Socialist.  They can regulate rent, but they can’t stop the bottom from falling out of the real estate market.

God bless their lil’ ol’ Marxist hearts, they don’t know why this is happening.  LOL

 

[Mick]

Seattle progressives might have the answer to high home prices. Increase taxes and fees to the point where homeowners are leaving and no one is moving in. Can you say supply and demand? Lots of inventory, low demand, prices fall.

That’s basically what happened in Detroit. Population went from 2.1 million to 678,000, and Presto! You have over 100,000 unoccupied residences.

I was at a diner one morning in East Detroit, and the waitress asked if I could close out her bill because she wanted to join her son at his house closing. I agreed, and we started talking specifics. I asked her what he did for a living, and she said “barrista” and that he was buying a small house, two bedrooms, two baths, in East Indian village — an area that wasn’t the best, but far from the worst — and he was paying $35,000. For the whole house. With fixtures, electrical, plumbing and everything.

So you can serve coffee for a living in Detroit and buy a house. All you have to do is drive out 1.4 million homeowners. And Socialists definitely know how to get rid of people.

[Beeg_Dawg]

The rental market in Portland, Oregon, is so depressed that something almost unthinkable is now commonplace: Six-figure earners are paying some of the same rents as lower-income residents who qualify for subsidized housing.

Market rents in Portland have stagnated at the same time that rent limits for government-subsidized affordable apartments have risen. That means rents for affordable housing are growing faster than the prices for market-rate apartments. Rarely has the city seen such a narrow price gap between market-rate and affordable units.

Portland’s rental market stalled out in recent years as an oversupply of new housing collided with an economic slump. It is an astounding turn for a city once known as rapidly growing and notoriously unaffordable.

The trend has produced unexpected outcomes for lower-income renters.

Read more: https://on.wsj.com/4iKbA1l

Seattle is seeing market rent fall below subsidized housing rent.  Portland has the same Portland. I am astounded how much rental inventory is subsidized.

There are approximately 26,500 total affordable and publicly subsidized rental units in Portland, Oregon, with roughly 1,900 of those units currently sitting vacant and available.

Key Details on Portland’s Subsidized Housing

• Total Stock:> Portland has around 26,500 affordable apartments, and the Portland Housing Bureau  maintains direct investments in over 19,000 rental housing units across the city.
• Available/Vacant Units:Reports from The Oregonian/OregonLive indicate that nearly 1,900 publicly subsidized units are unoccupied, representing an approximate 7.4% vacancy rate for affordable housing.
• Contributing Factors: High vacancy numbers in affordable complexes are attributed to administrative bottlenecks, difficulties managing waitlists, and shrinking gaps between subsidized rent caps and private market rates.

• This reply was modified 3 weeks, 5 days ago by Beeg_Dawg.

[Mick]

My brother bought a house on SW 43rd in Portland on a part-time bartender’s salary a few decades ago. Then, he met his wife, and she convinced him to leave Portland for Carlsbad where he is now a public defender.

Here’s a different approach to homeless housing in Portland. Costs 1/40th what government programs do:

The Homeless Community in Portland That Became Self-Governed – The New York Times

• This reply was modified 3 weeks, 3 days ago by Mick.

[Beeg_Dawg]

A social experiment that bureaucrats will diminish because it does not fit their view of the problem and how to fix it.

Not sure where the times got its number, but its about half of what is actually spent on solving the homeless problem.

 

[Mick]

A social experiment that bureaucrats will diminish because it does not fit their view of the problem and how to fix it. Not sure where the times got its number, but its about half of what is actually spent on solving the homeless problem.

I think a big part of the issue is that the leaders of the non-profits helping the homeless are incentivized to remain in business. They do juuuuuuust enough to justify their continuing existence.

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