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The Affordable Housing Scam |
Dear Reader, |
I love Hawaii. |
It is one of the most beautiful places on earth. |
But it is also ground zero for one of the biggest economic scams in America. |
Politicians claim we need more taxes, bans, and rent controls to fix the housing crisis. It is a total lie. When a developer builds a new luxury condo, rich people move in. They leave behind their old, slightly cheaper homes. Middle-class people move into those. The housing crisis is manufactured. It is created by politicians who care more about zoning laws, impact fees, and historic preservation reviews Remember Tesla at $17. A few turned $50,000 into over $1.5 million in just over a decade. Now a major SpaceX IPO could be around the corner. Learn more about the “SpaceX” play before it’s too late
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The politicians in Hawaii love to talk about the "housing crisis." They wring their hands. They give speeches. |
They pass new taxes, new bans, and new rent controls. They claim they are fighting for the little guy. |
They are lying. |
They don't want to solve the housing crisis. They created it. And a new report from the University of Hawaii just proved it. |
The Filtering Effect |
My rich dad taught me a very simple rule: supply and demand. |
If you want things to be cheaper, you have to build more of them. It is not complicated. But politicians hate simple math. |
The economists at the University of Hawaii studied a new condominium building next to the Ala Moana Center. |
They tracked exactly what happened when people moved in. |
It is called the "filtering effect." |
When a family moves into a brand new, expensive condo, they leave behind their old house. |
That old house is slightly cheaper. Another family moves into that one. They leave behind an even cheaper house. |
It creates a chain reaction. One new luxury unit creates a cascade of vacancies all the way down the income ladder. |
The study proved that the houses people left behind were substantially cheaper than the new units. They spanned diverse locations. They helped everyone. |
A 2019 study by the Upjohn Institute found the exact same thing. New construction loosens the housing market in low- and middle-income areas. |
A 2023 study from NYU proved it benefits renters by slowing down rent increases. |
The math is undeniable. Building new homes makes all homes cheaper. |
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The Inclusionary Zoning Trap |
But here is the kicker. |
The Hawaii study found something else. They looked at the "income-restricted" units in the building. |
The units the government forced the developer to build. |
Those units led to fewer secondary vacancies. They actually slowed down the filtering effect. |
The government's attempt to force "affordability" actually made the housing market tighter. |
This is the great affordable housing scam. Politicians demand inclusionary zoning. They demand rent control. They demand massive impact fees. |
They claim they are helping. But all they are doing is making it impossible for builders to build. |
The Manufactured Crisis |
Why are we still debating this? |
Why are politicians still arguing about the definition of affordability instead of just letting people build? |
Because the crisis gives them power. |
If builders just built homes, the prices would come down. The market would clear. The problem would be solved. |
But if the problem is solved, the politicians can't run on it. They can't raise taxes to fund new "housing initiatives." |
They can't hand out favors to their connected friends. |
The current legislative session in Hawaii is a perfect example. They killed dozens of good housing bills. |
They are still fighting over the scraps. They are debating whether to repeal school impact fees. |
They are arguing over accessory dwelling units on agricultural land. They are fighting over "shot clocks" for historic preservation reviews. |
These are not real debates. They are stalling tactics. |
The Real Estate Reality |
If you want to build wealth in real estate, you have to understand the game. |
The government is not your friend. They are the biggest obstacle to affordable housing in the country. |
They use zoning laws and environmental reviews as weapons to restrict supply and drive up prices. |
Enacting free-market reforms would result in more housing at all levels. It wouldn't cost a single dime of taxpayer money. |
All it takes is the political courage to get the government out of the way. |
But don't hold your breath. The politicians like the system exactly the way it is. |
Your job is not to change the politicians. Your job is to understand the rules they write, and use them to build your own assets. |
Stop waiting for the government to make housing affordable. Learn math. Understand the filtering effect. And start playing the game like the rich do. |
Kiyosaki Uncensored |
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