We have posted a lot about how government intervention (i.e. rent control and other consequences of excessive regulation) has perverted the marketplace and has actually hurt the ability of real estate investors (and others) to provide quality, affordable housing. Now comes the latest “America’s Rental Housing” report from Harvard’s Joint Center for Housing Studies that says “it has become harder than ever for middle-income Americans to pay the rent.” Indeed, it has, but maybe not for the reasons and solutions they present – such as climate change and the so-called “promising strategies” that local governments have been pursuing. Not surprisingly, they suggest that more (not less) government intervention is what’s needed:
“What is needed, however, is a comprehensive response from all levels of government to address the scale of the nation’s rental affordability crisis.”
“…many jurisdictions have adopted a variety of promising strategies to expand the supply of affordable homes and apartments…”
Click here to read the full report at the Joint Center for Housing Studies of Harvard University.
