The average long-term U.S. mortgage rate jumped this week to its highest level in 20 years

The average long-term U.S. mortgage rate climbed this week to its highest level in more than 20 years, grim news for would-be homebuyers already challenged by a housing market that remains competitive due to a dearth of homes for sale.

  • Diplomjodler@feddit.de
    12·
    1 year ago

    Zoning laws absolutely play a huge part. They are the main tool of NIMBYs to prevent new construction of affordable housing.

    • NatakuNox@lemmy.world
      0·
      1 year ago

      I think we are saying the same thing. Even without zoning, now all that would change is chemical plants and dumps popping up around working class communities. Wealthy people will snap up rezoned land close to their houses. The housing crisis goes way deeper than just zoning laws, to the point they are just a tool of many.

      The tldr version: zoning was initially used to keep minorities out of areas and was changed into it’s current form once the majority of money had already pooled in to too few hands.