Rather than addressing the structural drivers of housing shortages and rising prices, the Biden administration and its California allies are increasingly targeting purported culprits such as rental-pricing algorithms while proposing politically appealing yet fiscally questionable subsidies. Although these measures may resonate with some voters in an election year, they risk diverting attention from the long-term structural issues at the core of the current housing crisis.
As the recent presidential and vice-presidential debates have underscored, inflation and housing affordability remain pressing concerns for U.S. voters. Both home and rental prices have experiencedsignificant real increases in recent years.
For example,
