Essentially, Sacramento, by removing all development constraints, moved Santa Monica to Houston, a place with virtually no zoning codes, and then to China, a place with vastly overbuilt empty housing skyscrapers (can you say Evergrande?).

But won’t we get more affordable housing?

Yes we will get, from Gelson’s, a few more affordable units. Every permanent affordable unit is a good thing. But it’s not necessarily true that we are getting more permanently affordable housing.

Read More: https://smmirror.com/2024/03/sm-a-r-t-column-arb-courage-part-2-of-2/