By Bob Silvestri : marinpost – excerpt
Perhaps the most overused word these days is the word “crisis.” Everything, we’re told, is a crisis. Still, when it comes to “affordability” (healthcare, college educations, housing, insurance, etc.) in California’s major metropolitan areas, the label may be accurate. There is little question, for example, that housing affordability continues to seriously challenge the average family in San Francisco.
The question is why. The simplest answer is that historically, in instances where wealth and income distribution are widely disparate and land resources are limited, there is no way to create “affordable housing” without some form of subsidy.
There is no historic data to contradict this maxim.
In response to this, state government has tried to address that subsidy by every means imaginable: increased taxes on income and sales, fees (SB 2), financial penalties (SB 35), public debt (SB 3), revenue reallocation (Cap & Trade funds) and increasingly draconian, mandated quotas that force the financial deficiency problems on local municipalities (SB 828).
One can probably expect this trend to continue… (more)