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That is true but I don't think an all out free market approach is the answer either(not that you said it was to be clear).This is where the more liberal policies on California come back to bite us in the ass I think. Building in California is a pain in the ass, and in general builders aren't creating enough new supply to make up for the demand. And people have to go someplace. That's why we have tent cities popping up in Oakland and Berkeley, and the people living in them are the same people who work in the local convenience stores. The homeless there are a mix of regular workers, drug addicts and the mentally ill.
The reason is that there is no incentive to build affordable housing. As a builder if you have x amount of land it only makes sense to develop luxury housing because you get more money for the same amount of land. Like you point out because of mega-industries like Silicon Valley and Hollywood there are no shortage of well off people from around the country and world wanting to come to California's mega-cities so the demand for said luxury housing is basically endless. But the average joes get priced out.
So while I agree that there needs to be less red tape for builders we also have to find a way to incentivize the building of cheap housing for lower income Americans. I think that there needs to be less red tape in the building of tiny homes, especially on preexisting single family lots, as well public mixed income apartments.
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