City of San Diego added over 9000 units last year, homelessness increased 8-/
When a shiny new 2 bedroom apartment is priced at $4200/month, it isn't going to do ANYTHING to resolve homelessness.
Outlaw AirBnB! Outlaw empty "investment" properties. There are a lot of things that could actually help. Empowering the California real estate mafia won't do anything for anyone here except the developers.
I mean vacancy taxes will help, but the only reason why “investment properties” even exist is because of the intentional, artificial housing shortage.
Houses are deteriorating assets that only gain their wealth because of the land value appreciation. If you can just build new housing, there is no reason to hoard the existing housing, because your neighbors might try and capture that value before you can.
When a shiny new 2 bedroom apartment is priced at $4200/month, it isn't going to do ANYTHING to resolve homelessness.
Outlaw AirBnB! Outlaw empty "investment" properties. There are a lot of things that could actually help. Empowering the California real estate mafia won't do anything for anyone here except the developers.