For years many Libertarians have suggested repealing the land use laws. Now we may be seeing some big help based on some hard to reject evidence.
According to a Sept. 6, New York Times editorial titled “How Local Housing Regulations Smothers the U.S. Economy” by economists from the University of Chicago and the University of California at Berkeley and based on research, they published in April of 2015, they state that “… Land-use restrictions are a significant drag on economic growth in the United States.”
“Without these regulations, our research shows, the United States economy today would be 9 percent bigger — which would mean, for the average American worker, an additional $6,775 in annual income.” How would you feel with that kind of increase in your wallet?
Housing prices in Thurston County cost over $150 a square foot. In cities which have allowed home construction to keep pace with the influx of people, prices are about $100 per square foot. Repealing the land use laws could allow some of the money that goes to the mortgage bank each month stay in the family and be spent locally, benefitting the local families and merchants.
Repealing the laws would also increase job opportunities for local trades; it also means more opportunities for returning veterans, a reduction in stress on young families, and maybe a reduction in the number of homeless people on the streets.
Michael H. Wilson, Lacey