Earlier quoted context omitted.
I've never understood the arguments in favor of publicly funded housing. Public funding is used for things that are a common good (e.g. roads, public parks, defense, food safety) or that are important but otherwise wouldn't get funded (e.g. basic research). Housing fits neither of those buckets. If you occupy a publicly funded housing unit, I can't - it's not a public good. And there are always developers and builder…
There are literally 300 homeless people living in a tent city in a public park in Vancouver right now in part because there is no affordable housing. Seems to me that there's a market failure here where the market cannot create affordable housing. It's not regulations alone that have made it so that developers can't make affordable housing. The construction costs are simply too high for a for-profit developer to be a…
I don't know about Vancouver's specific problems. Why are the construction costs so high there?
In the Bay Area regulations, and tax laws that incentivize holding on to old housing, are largely to blame for the lack of housing supply.
> If I'm a renter I'd rather have my monthly rent go to back into the public purse to be re-invested in more public works than to some S&P500 listed REIT to pad some wealthy investors' dividends
Who in turn pay taxes on those dividends. Maybe increase those taxes, and taxes on the property itself.
> If housing development is such a good investment then of course the public should get in on it.
Lots of businesses are a good investment. That's not a good reason for the public sector to get into it.