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this is inverted in SF -- 65% renter.
http://www.sfphes.org/enchia/RP_MOH_part1.pdf
~50% in LA apparently.
Those numbers help explain why SF has rent control, and why federal laws are all oriented toward keeping house prices too high.
Now the question is, which came first?
The poor people or the government interventions?
"The earth is given as a common stock for man to labor and live on. If for the encouragement of industry we allow it to be appropriated, we must take care that other employment be provided to those excluded from the appropriation. If we do not, the fundamental right to labor the earth returns to the unemployed. " -- Thomas Jefferson, 1785 letter to Madison.
Poverty comes from lack of economic opportunity. We've got 240M people in this country aged 16 and over, but not quite $12T/yr of economic opportunity.
Honest workers in this country are subjected to parasitical taps wherever they turn. $1000/yr for car insurance, $4000/yr on gasoline, $10,000/yr+ for health insurance, $10,000/yr+ on land rent.
It's a miracle we still have a middle class in this country.
If it weren't for government spending things would be even more centrifugal than they are now.
Cut the DOD by $500B/yr and see the South dry up and blow away!
Now the question is, which came first?
The poor people or the government interventions?
Read "Progress and Poverty" by Henry George.
Poverty is the result of unproductive rent-seeking by the very rich. No amount of labor or personal responsibility will win a rigged game. A few are allowed to join the unproductive rent-seeking class, to let the others think they might have a chance. But they don't actually have a chance.
But yes, the government has a huge role in this. Wealth is used to make laws to protect the rent-seekers. Which has exactly the same effect as excluding everyone else.
One way out is very strong and clear campaign finance reform. No private campaign contributions allowed, only publicly funded campaigns.
Another good way out is a single tax. A tax on unproductive rent-seeking.
Honest workers in this country are subjected to parasitical taps wherever they turn.
That's what I mean. The 1% continuously steal from the 99%.
An explanation why Tea Partiers and Occupiers keep speaking past each other.
From here.
US homeownership rate is roughly 66%.
http://www.census.gov/hhes/www/housing/hvs/qtr211/graph211.html
Here's to the other 34%!
#housing