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By Anonymous Mike, pseudonymously.



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Sunday, February 17, 2008
 
Slammin' the Door

Getting caught up on my reading, found this link from Instapundit....

"Between 1989 and 2006, the median inflation-adjusted price of a Seattle house rose from $221,000 to $447,800. Fully $200,000 of that increase was the result of land-use regulations, says Theo Eicher"

That's a boatload of equity and it stems from regulating the supply of land available for housing.

Crack open a political economy textbook and you'll find alot of discussion about "rent-seeking," that is the creation of individual or corporate wealth through manipulation of the legal or regulatory environment. Seems like Seattle has shown the way to greater wealth for those of us who already own single-family houses.

The concept of using political contributions and lobbyists to derive government benefits is already well established (see John Murtha or Tom DeLay.) How about we take it one step further and pool together contributions from among the hundreds of thousands of existing house owners in the Valley, we could organize on the neighborhood or HOA level, in order to fund ballot initiatives and lobbyists. We could then push to tighten the supply of land for new housing, either through state land or planning restrictions, which would make our existing houses that much more valuable.

You would claim that pursing higher house values would restrict the supply of affordable housing... tom-a-to, to-mah-toe. Blah, blah, blah.

If you push me on it I'll just we 're doing it for the environment and to prevent urban sprawl or the promotion of new urbanism or whatever.

Yeah that's the ticket.