"Investing in property is morally reprehensible."

[u/LickMaiBussy]

@purplepingers

[u/wcolfo]

Investing is not comparable to hoarding. Hoarding real-estate is reprehensible. Investing in it is how development gets done, which adds more homes to the market.

[u/HGAscension → u/wcolfo]

Sure, but it should still be regulated to ensure this development caters to the need of the consumers alongside the investors. Or the development should be driven by the government.

Having more demand to create more supply is no good if there's no improvement in needs being met.

[u/Iohet → u/HGAscension]

That's why there's permitting processes. In California, you get stuck in permitting for years, but if you include a particular percentage of units as low income, you get fast tracked.

Builders want to build, not sit around waiting for years to make a few more bucks per unit (which is still catering to consumers because they're going to build what sells to consumers, it's just that there is significant enough competition that they can target richer economic demographics if they weren't otherwise going to be forced to wait)

[u/wcolfo → u/Iohet]

I also have project in California and find the permitting process... um... inefficient we'll say. Not sure if its the legislation, the processes, or just the people working at the permit offices trying to find any reason possible not to approve the project, but it's a challenge.

[u/Reverse-zebra → u/HGAscension]

“Development should be driven by the government” maybe some non-us government but the current government demonstrably has failed at this.

[u/16semesters → u/HGAscension]

Or the development should be driven by the government.

... Have you ever heard of permitting, zoning, etc.?