TL;DR: Bass signs an executive order making it easier to build "100% affordable" (i.e. price-controlled to a level affordable to households at 80% of AMI) housing, but provides no funding. Without all the red tape, this is actually profitable, even with the price controls, so builders go nuts. Then Bass starts adding additional regulations to shut it down.
2 weeks ago
In "Karen Bass is a garbage human being" news, this is amazing if true (and I assume Yglesias isn't just making stuff up, but the article is paywalled).
TL;DR: Bass signs an executive order making it easier to build "100% affordable" (i.e. price-controlled to a level affordable to households at 80% of AMI) housing, but provides no funding. Without all the red tape, this is actually profitable, even with the price controls, so builders go nuts. Then Bass starts adding additional regulations to shut it down.
In "Karen Bass is a garbage human being" news, this is amazing if true (and I assume Yglesias isn't just making stuff up, but the article is paywalled).
Dude, why are you posting comments here instead of working on making more Jews? We're running out!