“Although the legislation touts the 30,000 units of affordable housing that were produced during the past decade through inclusionary mandates, it ignores the fact that the mandates reduced the growth of new housing by a far-greater number. In Los Angeles and Orange counties alone we estimate that during the period we studied more than 17,000 potential new homes were never built due to the inclusionary zoning requirement, while only 770 inclusionary units were added. Politicians like inclusionary zoning because it allows them to champion affordable housing without having to directly raise taxes. But the new houses aren’t free. Someone must pay for them.”
http://www.independent.org/newsroom/article.asp?id=4726
Related posts:
Bill Bonner: Can This Simple Trading System “Beat the Market”?
Deciding on Living in Medellin, Colombia: The Good & Bad
Gold and Bitcoin: Currencies of the Future
Your Right to Use Encryption
Why So Much Faith in Supreme Court Justices?
Khan Academy's Challenge to State-Certified Educators
Seth Klarman On "Born Bulls", Bitcoin, & "The Truman Show" Market
Ten Reasons the U.S. Is No Longer the Land of the Free
Henry Magee, John Quinn, and the "Right of Resistance"
Getting the Best Rates on Currency Conversions
John Whitehead: Anything Goes When You’re a Cop in America
Washington's Reaction To Bitcoin Is Acknowledgement Of The Dollar's Vulnerability
Is The Everything Bubble Ready to Pop?
What the NSA Revelations Tell Us about America's Police State
Why U.S. Should Adopt Residency-Based Taxation