Blog

Authored by Mike Shedlock via MishTalk.com,

If you want more shortages, then artificially stimulate demand. That’s exactly what Harris proposes, following the lead of AOC.

The Kamala Harris Plan

The National Low Income Housing Coalition discusses the Harris Campaign Plans to Lower Housing Costs.

A Wall Street Journal Rebuttal

Please consider The Kamala Harris Plan for More Housing Shortages

An Idiot’s Proposal

It is economic idiocy to believe that Giving people $25,000 to buy a house will do anything but raise prices.

On the supply side, the houses would either have been built anyway or the new construction will be shoddy.

We have had dozens of “affordable housing” programs over the years and if we include state and local efforts the plans number in the hundreds if not thousands.

Everyone of those plans raised prices or caused an economic crash.

Let’s now discuss the Harris plan to “increase housing supply for people experiencing homelessness“

Harris did not put a cost to that. We can look no further than California for the reason, as well as the likelihood of success.

A New High-Rise Building Will House the LA Homeless in $600,000 Units

Please recall my June 19, post A New High-Rise Building Will House the LA Homeless in $600,000 Units

Beyond Insane Math

NBC news reports There are 75,518 people are homeless in the county, and 46,260 in the city of Los Angeles, an increase from the 69,144 in the county, and 41,980 the city from 2022 as of Jan 23, 2023.

$600,000 * 278 = $166,800,000. That’s $166.8 million. And that does not include free property taxes, case workers, maintenance, utilities, insurance, food, police, clothes, doormen, or medical care.

If the county were to shelter the 75,518 homeless, the cost would be $45,310,800,000. That’s $45.3 billion, again excluding free property taxes, case workers, maintenance, utilities, insurance, food, police, clothes, doormen, or medical care.

And it would not stop there. Every homeless person in the state would move their tent to LA to participate.

Affordable Housing

This dear woke fans is what’s known as “affordable housing”.

Taxes have to rise to accommodate such stupidity. It makes me angry just thinking about this. For what? Does the city think this will cure the homeless problem?

Most of these people are some combination of drug addicts, alcoholics, mentally unstable, and physically unfit to ever work. And even if they did work, they would not be living in $600,000 units.

California Proposes Restraining Orders to Stop Thieves

More and more headlines look as if they are from the Babylon Bee.

On June 17,I commented Hoot of the Day: California Proposes Restraining Orders to Stop Thieves

What’s going on in California is beyond insane.

Also see Twenty Percent of California Lives in Poverty, What’s Going On?

Green New Housing Deal

In case case you don’t see where this is headed, let me spell it out for you:

Harris has adopted AOC’s New Green Deal for Public Housing

How Much Would This Cost?

AOC says the bill would invest up to $234 billion over a decade into “weatherizing, electrifying, and modernizing our public housing”.

Don’t kid yourself, the whole policy would cost many trillions of dollars.

The Harris sucker pitch is to start out small then add trillions of dollars more when she discovers free $25,000 down payments were not quite enough to reduce costs.