The bottom line for housing is that the concerns we used to hear about the possibility of a devastating collapse—one that might be big enough to cause a recession in the U.S. economy—while not fully allayed have diminished. Moreover, while the future for housing activity remains uncertain, I think there is a reasonable chance that housing is in the process of stabilizing, which would mean that it would put a considerably smaller drag on the economy going forward.
While it's absolutely important that we build housing for our low-income residents, when we are talking about opening up hundreds of sites for housing, we should be trying to build affordable housing for all of our residents struggling to pay rent. That means housing for teachers, for nurses, for janitors.
A strong economy causes an increase in the demand for housing; the increased demand for housing drives real-estate prices and rentals through the roof. And then affordable housing becomes completely inaccessible.
If the Government put people before markets, it would build more council housing - a form of public investment in housing that pays for itself while offering refuge to those who most need it.
I think housing is not a simple commodity because we are so in short supply of land. So the government has a role to play in providing housing - decent housing and affordable housing - for the people of Hong Kong.
Although housing sales and starts have cooled to more typical levels, the housing market remains strong and sound. Without the expansion of homeownership and the strength of our housing market, our nation would not have the economic growth we are experiencing today.
When regulations on the housing industry are reasonable, the cost of housing goes down. Regulatory relief is needed to make housing more affordable to more Americans.
While it won't solve all the world's ills - and ideas such as a rent cap and more social housing are necessary in places where housing is scarce - a basic income would work like venture capital for the people.
Too-easy credit and millions of bad loans made during the U.S. housing bubble paved the way for the financial calamity and Great Recession that followed. Today, by contrast, credit is too tight. Mortgage loans are particularly hard to get, creating a problem for the housing market and the broader economy.
Housing has always been a key to Great Resets. During the Great Depression and New Deal, the federal government created a new system of housing finance to usher in the era of suburbanization. We need an even more radical shift in housing today. Housing has consumed too much of our economic resources and distorted the economy. It has trapped people who are underwater on their mortgages or can't sell their homes. And in doing so has left the labor market unable to flexibly adjust to new economic realities.
We can't keep limiting ourselves when it comes to housing. Affordable housing and teacher housing are too crucial to let the failed policies of the past get in the way.
Having spent years ruining the housing markets with their interference, leading to a housing meltdown that has taken the whole economy down with it, politicians have now moved on into micro-managing automobile companies and medical care. They are not going to stop unless they get stopped. And that is not going to happen until the voters recognize the fact that political rhetoric is no substitute for competence.
Public housing projects as well as private landlords are free to deny housing to people with criminal records. In fact, you don't even have to be convicted. You can be denied housing - or your family evicted - just based on an arrest.
Do we believe housing is a right and that affordable housing is part of what it should mean to be an American? I say yes.
I do know that homelessness is related to housing, and we haven't been producing housing in the numbers that our community requires - a lot of the escalating costs of housing is related to the fact that supply is way short than demand.
The real story in housing will be a recovery in the economy that will drive a recovery in housing, When people are working, when there are more jobs, more households forming and people go back to buying cars, they're going to want their apartments and homes. And that's when you'll start to see a recovery in home prices.
As soon as I got out of law school, I went to inner city Newark, New Jersey, to become a housing rights lawyer, because people fought for my housing rights, I was going to pay it forward by fighting for others.