Why are Homes Unaffordable?

Homes are not unaffordable because big corporations are buying up homes. They are not unaffordable because immigrants, legal or illegal, or somehow buying up or living in all these homes. The reason why housing is the most unaffordable it has ever been in American history is because of images like this. This is in San Francisco in the Marina district where hundreds of Marina residents are coming to discuss a high-density housing plan. Do you notice anything about this image? When you think of San Francisco, you probably think of AI or startups or techies who like Boba and hiking. This demographic is a little different. And this particular crowd is trying to block the development of new homes. Because the home that they purchased 30 years ago has 10X'd in value. And new developments may mess up the vibe of the neighborhood or lower the value of their homes. The real reason why housing is so unaffordable is that we do not have enough of them. There is a major housing shortfall in every metropolis in America. And when there is too little supply for too much demand, prices go up. And when small communities of high-propensity voters, namely old home-owning people, can block elements of new housing, we will never cover this shortfall. Now, I'll be the first to say they aren't doing this maliciously. Many people have most of their net worth in their homes. It is literally their retirement savings. But that's part of the reason why I say we're in the end game now. There is no decision, no policy, no way to fix this without causing some pain. And for 30+ decades now, that pain has been squarely felt on the incoming younger generation. Lower real wages, unbelievably high tuition costs, all economic opportunities concentrated in a few metropolitan areas. And a spiraling national debt, the biggest cost of which is in entitlements. Medicare, Medicaid, Social Security, the primary recipients of which again are not young people. The government prints more money, guess what that's called? Inflation, which means prices go up and your real wages go down. This is why some people say we are in a gerontocracy, or being ruled by old people. Which is why, as a young person, it is incredibly important that you exercise your civic duty and you vote, both in local and federal elections.