Real estate expert Ryan Serhant warns against government solutions to the housing crisis, arguing that they will only make matters worse. He calls for reduced government regulations and a focus on private-sector solutions.
The United States is facing a severe housing crisis, with soaring home prices and a shortage of affordable housing. This crisis has sparked proposals from politicians on both sides of the aisle, but real estate expert Ryan Serhant argues that government intervention is not the answer.
Serhant, the founder of Serhant Real Estate, has examined the U.S. housing market and identified several reasons for its dysfunction. One major factor is the shortage of housing supply, which he attributes to burdensome regulations and environmental laws.
The U.S. Housing Crisis: Why Government Intervention Is Not the Answer
"We must rein in environmental laws that have taken tens of millions of acres of private land from potential homebuilding," Serhant writes. "We need to put a stop to the endless lawsuits that stop housing project after housing project."
Another problem is the zoning laws that restrict the construction of new homes, particularly affordable housing.
The U.S. Housing Crisis: Why Government Intervention Is Not the Answer
"Large lot single-family zoning is making it impossible in many communities for private landowners to build modest starter homes, granny flats, duplexes, and triplexes," Serhant explains. "This is making it impossible for young people to live where they grew up and working families to afford to live where they work."
Serhant also criticizes government proposals to provide financial assistance to homebuyers and the housing industry. He argues that these subsidies will only drive up prices and create new bureaucracies.
The U.S. Housing Crisis: Why Government Intervention Is Not the Answer
"The homebuilding industry estimates this nation is roughly 7 million homes short of what we need to meet demand," Serhant writes. "Harris says her plan will create 3 million homes. What Harris proposes does not make it easier to build, but it would forever distort the housing market with federal price controls, federal bureaucracies, and federal failure."
Instead of government intervention, Serhant advocates for a free-market approach to solving the housing crisis.
"We don't need more government," Serhant writes. "We need the government to get out of the way and allow people to build the homes that people want where they want to live."
By reducing regulations, streamlining zoning laws, and removing barriers to construction, Serhant believes the private sector can address the nation's housing shortage and create a more affordable housing market for all Americans.
