Let’s Fix Housing (it’s BROKEN)
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- Опубліковано 1 жов 2024
- Let’s make it easier to build houses all across the United States!
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There’s a housing shortage, but the government currently forbids you from building most types of homes on most of the land in your city. This is the leading reason why renting or buying homes is so extraordinarily expensive -- and the biggest contributor, in my opinion, to our broken real estate market.
And the crazy thing is that homeowners would gladly build more housing if it were legal to do so in more places. That's what this channel is all about.
We’ve had huge success in building more housing at all levels of affordability, just by asking local governments to set up objective, predictable rules and then get out of the way of land-owners building on their own land.
But we have to speed things up if we’re going to fight this housing shortage. So we want to ask the Department of Housing and Urban Development (HUD) to help states and local agencies develop and implement better housing policies.
I moved to Washington, D.C. for 6 months. I met with all the stakeholders I could find, and you can read about all my adventures here: ryanohousing.g...
Check out the book I wave around here:
Fixer Upper by Jenny Schuetz www.brookings....
The housing underproduction report: upforgrowth.or...
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All this crap takes loads of time...we need help NOW!!! Even in CA. Fresno still has nowhere to put a tiny house. I'm 60years old and single....28 years at a nationwide company. And between being taxed to death and underpaid now that minimum wage of 20.00 hour is 2\3 of my salary...I'm gonna have to live in my car soon! So done with government crap! Ugh..
I’m sorry you’re feeling the brunt of it. Unfortunately, the big changes take a long time, especially at the national level. But we spent over 40 years not building the right homes in the right places, so it might take us a few years to dig our way out. I hope we find a way to help you in time! Thanks for watching
I built 5 adus over the prior 4 years. Adus needs to be considerred an additional unit for appraisal purposes. IE for example, a sfr with an adu should be considerred a duplex for appraisal purposes. If there is a detached adu and a jr adu along with the sfr, it should be a triplex. I am a Certified Real Estate Appraiser here. There are too many variations of adus and not enough appraisers are educated on the marketabilty of each types. We need GSE reform along with education for appraisers on how to appraise them.
Location. Location. Location. Why build in a high cost real estate market? There is plenty of land to live and build beyond the wild.
Interesting! And then within towns, it's wild how much we depend on single use zoning restrictions. There's so much we can do better
@@HowToADU I agree but for who? Land use law reform can do ao much. You need the land first, then you need the money, and then you get the power.
Hopefully the ADU legislation will make a difference here in California, but no such luck as of yet.
One key point all of the supply strategies are missing is that we could have all of the supply in the world, but if we allow that supply to be hoarded by investors, we will still have affordability problems.
Until we effectively address investor-induced housing inflation, ain't much gonna change...as the decades and decades of failed housing strategies that didn't dare to challenge our unlimited, feudalistic property laws have shown us.
I’m all for exploring those solutions too. In particular, limits on ownership are powerful when you have too much housing supply in an area or an unpopular kind of housing (indicated by high vacancy rates or low usage rates). And in situations where supply is lacking, public housing and community land trusts are both great ways to create housing and control pricing. Having said that, most of the numbers I’ve seen indicate that investor ownership is not a huge contributor to the cost of housing in most markets - but I’m very aware that it is an issue in many places and price collusion should definitely be regulated. Basically, my suggestion would be that we get better data on vacancy rates and then use that data to know if housing providers are overcharging or keeping units vacant to get higher prices. And we get sophisticated about price fixing. But before we do all that, the easiest way to end a monopoly on housing, is to let people build housing.
The mere presence of investors organically inflates housing prices three ways:
1) Investors increase demand above and beyond the naturally occurring demand of owner-occupants. In a Feudalism-free housing market, potential owner-occupants would be competing only with other potential owner-occupants to buy a home. However, when investors are allowed into the housing market, would-be owner-occupants now have to compete with investors. This brings about an increase in demand, which significantly inflates housing prices.
2) As investors buy up homes and turn them into rentals, they constrict the supply of homes available to hopeful owner-occupants. This decrease in the supply of available homes is inflationary and drives housing prices up more.
3) Investors bring about a huge increase to the money supply available specifically to land & housing. Their cash reserves and access to credit enable investors to outbid would-be owner-occupants, which significantly drives prices up even more.
Keep in mind the above-mentioned inflationary factors occur simply by allowing investors to buy investment properties, and don't even take into account the greedflation investors big & small giddily take part in as they set rental rates and sales prices as high as they possibly can.
Allowing investors into our land & housing system sets off a feudalistic, inflationary cycle. The more property we allow investors to hoard, the more housing prices inflate, the more would-be owner-occupants are then unable to purchase their own homes and are instead forced to be renters. This in turn makes it easier for investors to hoard more & more property, which they excitedly do, and the cycle goes on and on, with housing becoming more and more unaffordable as time goes on.
The only way to rid our land & housing system of the inflation that real estate investors cause is by banning real estate investors. The reason our perpetual affordable housing crisis has only gotten worse and worse over many decades, despite the multitude of housing strategies implemented over that time (including govt housing and land trusts,) is because not one of these strategies dared to address investor-induced inflation. This root-level cause has been routinely ignored in favor of status-quo preserving strategies that address symptoms only, often making things worse over the long-term.
Keep up the great work 💯
Thanks for watching!
I hope you make a difference, because right now the process sucks
I truly admire your acumen and dedication to this issue. You're brilliant, eloquent and rational. Platitudes aside, housing, like any other concern of daily life is plagued by just as many unnecessary, bureaucratic road blocks, at all governmental levels as are the production of food, pharmaceuticals and motor vehiclea, with the addition of the often despotic and tyrrannical intervention of municipal and HOA agencies. You know this all too well. In this struggle, we are myred in semantics and nomenclature, too often making ADU's , Missing Middle or High Density Housing, etc., too much the focus of our discourse. We need to simplify the message to the affordable housing crisis, one that encompasses a synoptic view of the problem that promotes a logical approach to solve it, one agile enough to properly address the issue locally to meet local needs in the most efficient and common sense approach to the locality, if there were a a national clothing crisis recommending a parka to clothe everyone will only work for some and be wasted on others. Keep up the the great work, I am also doing my best on my end to do what I can, Bravo!
Thanks for watching! Yeah, we can get super stuck in the technical parts and lose the narrative completely. Which is crazy because housing is one of the most basic and salient issues you can find in today's world. Almost everybody pays for housing once a month and nobody LOVES it ;D
Hey, one of the upcoming initiatives will be to get city governments to sign on, especially for cities around 25,000-50,000 residents. If you want to help, let me know.
1) Let us build with whatever material we want to use, IE, Aircrete, rammed earth, etc. for example. 2) Let us build the size of house we want. No you must build no less than "X" sqr feet. Let me build the type of house that I want, where I want that fits inside the price that I can afford given that you want to control what I make as a bottom line worker.
Looser dimensional restrictions is a good one. The material question is interestingly yet another different entity to lobby, but yeah totally. It’s wild how quickly countries like Japan adopt new technology compared to us
Congratulations !!! I hope you make a difference. Because of you, I converted my garage into an Jr. ADU and I am currently building another ADU in the backyard. I hope that there will be better loans out there for future ADU besides using HELOC and your own investments.
That's so cool! Yeah, we're still working on the lending environment!
@@HowToADU Thank you for your hard work and dedication. I hope that with your dedication, we can one day get better loans for ADU in the future so that I can refi my HELOC into something better.