Earlier quoted context omitted.
Ah -- you showed your hand there. You should be careful saying things like "high housing costs which driven up by overregulation". It sounds like you're trying to frame bad economic news like it's the fault of a more liberal political party in the US. High housing costs are just an effect of capitalism. It's supply and demand - as simple as that. If they were grass huts in downtown San Fransisco, they'd be just as ex…
Zoning is regulation. Prop 13 in California is regulation. Regulations can reduce supply and drive up prices. The Bay Area is proof of this.
Prop 13 actually limits property taxes and the assessments that can happen. You're actually hurting your argument with this point.
Regulations don't reduce supply because regulations don't purchase properties. People purchase properties and then that property is off the market.
The Bay Area is proof that limited supply (because there is only so much land in the area) + steady (or increasing) demand (because people need to live close to where they work for some baffling reason) will cause property values to raise steadily over time.
Again: It's supply and demand. Regulations have very little to do with price increases.
To be clear: I'm not anti-capitalist ... I'm just anti "wrong context"