From Joe Bosquin at Builder Online:
When Pat Burns began his construction career in California in 1970, houses sprang forth from the ground in as little as two months, and it didn’t cost that much to get them started. Today, he says, cycle times ave doubled, and he estimates that fees, labor regulations, and more stringent building-code requirements add roughly $47,000 to a typical 1,400-square-foot home—and that’s if everything goes right.
The cumulative $75,000 in added costs from fees and building code requirements is just a fraction of what has contributed to the staggering price of housing in California. The rest comes simply from supply and demand, or more accurately, a lack of supply that has run into a torrent of demand. The collision of the two has helped create, in a convoluted way, the state’s ever-increasing fee structure that builders in California like Burns face. More.
Reality check: Bosqun diplomatically represents the results as “unintended consequences.”
In fact, they are foreseen consequences that do not impact the elite and their rentpaying/rentseeking dependents. They impact only the shrinking working and middle classes who don’t work for government and so now don’t have a political voice.
Jut think of all the regulators the system now employs, to prevent tradesmen from working.
See also: Mark Steyn: Who benefits from big, corrupt government?