Elizabeth Warren's YIMBY plan: 1. Block grants to cities that reduce zoning restrictions 2. Subsidies for affordable housing 3. Down payment assistance to help poor people buy houses 4. More policing of lending discrimination https://www.theatlantic.com/politics/archive/2018/09/elizabeth-warrens-fix-americas-housing-crisis/571210/ … I like it.
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Haven't seen the research you cite before so I'll give it a read, but it does seem unintentionally regressive to incentivize poor people to tie themselves to a large illiquid asset that is likely in an unproductive area because that's what they can afford.
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You can make the grants conditional on buying a house in a productive area.
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Sounds dangerously close to redlining.
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That's one of several things I'm worried about.
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You're kidding, right? This is explicitly the opposite.
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Not at all, it depends on how you define "productive area". And for that matter the productive areas of one time period don't necessarily equal the productive areas of another time period. Exposes people to a lot of risk over time.
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That is true! But what we really mean is buy poor people houses in neighborhoods somewhat more upscale than their current ones.
End of conversation
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Two problems: if we’re going to subsidize single-family homes, why are we changing zoning to build apartments. (I have no objection per se to either, but if we’re going to pay for new single-family homes, that’s what we should encourage. 1/2
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And in productive areas, the subsidies would be huuuge. Again, I’m not opposed, but that’s a shitload of cash.
End of conversation
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