Urban Planning & Rising Home Prices
The American Dream of owning your own home was supposed to be for everyone who was willing to work hard and live responsibly. Unfortunately, today, housing has become so expensive, it has made buying a home an impossibility for many, particularly for people with low or moderate incomes.
Unnecessary government land-use and urban planning regulations—like traditional zoning laws, excessive taxes, development fees, and rent control—are helping drive soaring housing prices, particularly in urban areas. As IWF's Angela Logomasini explains in her recent policy focus, we can offer people with more affordable choices by rolling back these regulations and by providing a market with more freedom and competition:
Housing prices will continue to rise in areas that advance excessive land use regulation and particularly “smart growth” policies. If they care about advancing affordable housing, policymakers need to change the regulatory tide to allow developers and other providers to meet market demands for housing.
Ideal policies would eliminate urban growth boundaries, reduce or eliminate excessive taxes and “fees” on development, eliminate height restrictions, do away with minimum parking requirements, and reverse zoning limitations that prevents builders, homeowners, and developers from meeting market demand for housing. And cities should begin to phase out counter productive affordable housing programs, such as rent control/stabilization and inclusionary zoning programs, to allow a truly competitive housing market to meet demand.
You can read the entire policy focus here. Then, please be sure to click on the social media icons below to share this important story with your friends and family.