Housing

The Lottery Life: Creating Lucky Housing Winners at the Expense of Everyone Else

End the “Lottery Life” in housing and watch market entrepreneurs do the rest.

A Case Study in Nuisance

Nuisance is highly contextual. An action that constitutes a nuisance in one context may not be a nuisance in another context.

Affordable Housing: The Costs of Democracy in California

On the one hand, housing advocates and public officials decry the state’s housing shortage. On the other hand, they continue to advocate for more controls and restrictions to be piled onto the shoulders of housing producers.

The Myth that Central Banks Assure Economic Stability

What is the fundamental issue is: monetary central planning – with its embarrassingly awful one hundred year track record with paper monies – or getting government’s direct or indirect hand off the handle of the monetary printing press.

Books: The Moral Case for Finance

The essential moral case for finance that Brook and Watkins present is that finance is good by the standard of human flourishing.

The ‘Affordable Housing’ Fraud

It is no coincidence that housing prices in coastal California began skyrocketing in the 1970s, when building bans spread like wildfire under the banner of “open space,” “saving farmland,” or whatever other slogans would impress the gullible.

Rent Control Hypocrites

Those who benefit from government coercion seldom like it when the gun is turned around and pointed at them. They have no hesitation to demand that government use compulsion for their benefit, but complain when compulsion is directed at them. As an example,...

Zoning Versus the Internet

The stated purpose of zoning is to control land use within a community to prevent “incompatible” land uses and to promote planning. Most Americans accept zoning as a “necessary evil” that prevents pawn shops and factories from operating in residential neighborhoods....

Building Safely without Government Building Codes

Most people accept building codes as a necessary government intervention. One Website states: Codes provide minimum standards for building construction in order to safeguard the public’s safety, health, and welfare. Another Website states: If we searched we could find...

Zoning and Tyranny

In 2007, I served as a consultant to a group of citizens opposed to an attempt to bring zoning to Hobbs, New Mexico. During that time, I wrote a series of articles that were published in the local newspaper. This is one of those articles. In a referendum, zoning was...

The Nature of Zoning

In 2007, I served as a consultant to a group of citizens opposed to an attempt to bring zoning to Hobbs, New Mexico. During that time, I wrote a series of articles that were published in the local newspaper. This is one of those articles. In a referendum, zoning was...

Rent Control Hypocrites

Those who benefit from government coercion seldom like it when the gun is turned around and pointed at them. They have no hesitation to demand that government use compulsion for their benefit, but complain when compulsion is directed at them. As an example,...

Nuisance, Zoning, and Property Rights

One of the primary justifications for zoning is to prevent “incompatible” land uses, such as keeping industrial facilities out of residential areas. Such “incompatible” uses are regarded as an inherent nuisance, and rather than wait for the nuisance to occur, the use...

Out of Order

While JP Morgan CEO Jamie Dimon has been credited for a confident and feisty performance today in front of Congress, he was careful to not criticize their efforts thus far to regulate the financial services industry. Given that JP Morgan has been on the receiving end...

Rent Control: The Most “Peaceful” Way to Destroy a City

Swedish economist Assar Lindbeck once wrote, “In many cases rent control appears to be the most efficient technique presently known to destroy a city—except for bombing.” In the late 1970s, a poll of American economists found that ninety-eight percent agreed that “a...

America Mortgaged at an Adjustable Rate

The Federal Reserve ran another "stress test" on major financial institutions and has determined that 15 of the 19 tested are safe, even in the most extreme circumstances: an unemployment rate of 13%, a 50% decline in stock prices, and a further 21% decline in housing...

Housing Will Remain a Government Program

Recently, the Obama Administration seemed to flash a rare sign of laissez-faire thinking when it issued a report calling for the “winding down” of Fannie Mae and Freddie Mac, the two taxpayer-guaranteed institutions now responsible for backing at...

Economics Alone Doesn't Explain the Housing Market Collapse

Economist Peter Schiff writes: "How has the [housing] market found the strength to stop its descent? No one is making the case that fundamentals have improved. Instead, there is widespread agreement that government intervention stopped the free fall. The home...