The Pros And Cons Of Housing Development

899 Words 4 Pages
Over the past few decades, local barriers to housing development have intensified through out high-growth metropolitan areas increasingly fueling the national economy. The huge add up of many barriers such as zoning, land use regulations, and long development approval processes has the in fact reduced the ability of many housing markets to respond to the ever growing demands. The growing harshness of undersupplied housing markets sends working families out of the market. This rigor of undersupplied markets jeopardies housing affordability for working families which increases income inequality, by reducing less-skilled workers access to higher-wage labor markets, also decreases GDP growth by driving labor migration away from other regions. …show more content…
Housing regulation helps protect homeowners, and home values that strive to maintain housing affordability. In addition— regions are at the best to compete in the modern economy when their housing development is able to provide for local needs. Regions are much better at competing, thus bringing in more inhabitants who may not have the same affordable housing within their home state. Modern approaches to zoning can reduce economic and racial segregation, thus promoting a more inclusive living environment. States across the country have been interesting in revising their old 1970s—era zoning codes and housing permitting …show more content…
If the state were stacked up against nations, California would likely be the seventh-largest economy. California is a desirable place to be, but California’s home prices and rents are higher than just about anywhere else. Beginning in 1970, the gap between California’s home prices and the rest of the nation began to spread. California’s home prices went from 30 percent above U.S levels to more than 80 percent higher between 1970, and 1980. Living in a decent housing accommodation is important for every Californian. But how much is too

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