Amy Klobuchar has a plan to build more housing

[DonViejo]

With housing prices soaring, a bipartisan group of senators has a bill to tackle the supply crisis.

By Jerusalem Demsas@JerusalemDemsas Apr 16, 2021, 9:00am EDT

The housing supply crisis has become so acute it has spawned a rarity in Washington: A bipartisan bill that grapples with a national problem.

A record 42 percent of homes sold in the US in March sold above their list price. Why? Covid-19 has exacerbated America’s long-running failure to build a sufficient number of homes, and the supply crunch has a growing pool of people fighting for a dwindling number of properties.

Sen. Amy Klobuchar (D-MN), along with Sens. Rob Portman (R-OH) and Tim Kaine (D-VA), introduced the Housing Supply and Affordability Act — a new program geared to “help localities develop and implement comprehensive housing policy plans” with the goal of increasing housing supply and affordability.

“We don’t have enough housing,” Klobuchar told Vox after returning from recess. “Literally every mayor, Democrat or Republican, brought it up to me last week. Of course we’re talking about vaccinations and restaurants closing, but they want to keep workers and they need housing to do it.”

more
https://www.vox.com/22382212/housing-prices-supply-klobuchar-portman-senate-grants-biden

[4Q2u2]

1. Some protection would be nice also

Home buyers are now in competition with American Hedge Funds, and new to the game.
International Corporations. A Canadian retirement fund and German Insurance groups are just some of the new investors grabbing up single family houses in America.

https://www.wsj.com/articles/that-suburban-home-buyer-could-be-a-foreign-government-11618306380

https://www.theatlantic.com/technology/archive/2019/02/single-family-landlords-wall-street/582394/

[jmbar2]

3. THIS!!

Also foreign buyers.

Housing for the masses should never be monopolized by the rich. They need to consider public land/housing trusts to keep new housing out of the hands of speculators.

[Maeve]

2. Are you telling me Rob Portman is actually doing something worthwhile?

Wonders never cease

[Thunderbeast]

4. Housing prices are high, but low wages are the core problem.

We need not look far to find "best practices" on living wages. Other developed economies figured it out.

Our county's favoritism for capital over labor has recreated a slave economy. Reformed tax policy, stronger union protections, and a $20+minimum wage would go a long way toward balancing the economic scales.