It’s safe to say there has been a lot of focus on the housing market lately, with all sorts of experts weighing in and trying to predict where prices and interest rates are heading. This is important for all manner of reasons, of course, but lost in this discussion at times is the plight of the rental market. While home prices have certainly had a wild ride these past few years, rent rates have been even more volatile. Like much of our other housing market woes, this volatility can be traced back to a lack of supply in most cities. While the demand is there (Los Angeles is one of many majority renter cities, for example), the supply has not kept pace. This, it has been shown, has much to do with our housing policies and their tendency to favor home ownership over renting. I’ll get into more specifics on that in a later post. This week, I want to address the importance of tenure-neutral housing policies in creating a well-functioning housing market.
The Importance of Tenure-Neutral Housing Policy
The Importance of Tenure-Neutral Housing…
The Importance of Tenure-Neutral Housing Policy
It’s safe to say there has been a lot of focus on the housing market lately, with all sorts of experts weighing in and trying to predict where prices and interest rates are heading. This is important for all manner of reasons, of course, but lost in this discussion at times is the plight of the rental market. While home prices have certainly had a wild ride these past few years, rent rates have been even more volatile. Like much of our other housing market woes, this volatility can be traced back to a lack of supply in most cities. While the demand is there (Los Angeles is one of many majority renter cities, for example), the supply has not kept pace. This, it has been shown, has much to do with our housing policies and their tendency to favor home ownership over renting. I’ll get into more specifics on that in a later post. This week, I want to address the importance of tenure-neutral housing policies in creating a well-functioning housing market.