First and foremost, roll back regulations of new homes preventing more homes from being built. This will bring more units to market as well as lower the price of brand new units. This is the main reason behind the housing shortage. Developers want to build more and sell more. They are handcuffed by overburdensome regulations.
Second, give developers tax breaks. Allow them for 5-10 years(or however long is deemed enough) to operate tax free. This will lead to new home development companies to be created and more homes for all.
No other policies need happen. We don’t need to prevent wall street from buying. As more and more homes enter the market wall street can buy as much as they want. The single families who want them will still be there wanting them. Until that market(single families) is satisfied the developers will keep developing.
Separate policy, but foreign buyers should not be able to purchase property in the US.
Habitat for Humanity taken one step farther.
Let’s turn every High School in America into an Apprenticeship Program for the Skilled Trades. We have a shortage of Skilled Tradesman and too many kids dropping out of High School. If every High School’s shop programs built and sold a 3 bedroom home, every school year, it becomes a self sustaining cost free program.
The second benefit is to provide an alternative class program for ‘at risk kids’ to keep them in school. They can learn framing, electrical, tile work, painting, sheetrock, plumbing, roofing, HVAC and all phases of home building. These kids can meet the local small business leaders and learn a new career. Small business’s are always looking for qualified apprentices, to grow their business.
This program would help keep these ‘at risk kids’ away from the streets and give them a Future that pays well and has job security. It would benefit the local housing market with a new entry level home for each high school in America, with out costing the tax payers, a dime.
This would actually work perfectly with a proposal I wrote in the Liberty folder for national education vouchers. It would inevitably lead to better and better schools offering different things like this as they compete with one another.
I agree Thomas, we have to stop the cycle of losing these kids, in their teen years. The schools are one of the best tools to save our kids. It is just a broken system right now, we can do so much better.