Oakland’s Warehouse Tragedy Resulted From Too Little Housing Construction

[Originally published by Forbes]

 

In the time since a warehouse fire killed 36 people in Oakland, several lengthy media reports have provided valuable context. As the cover story of this past weekend’s Los Angeles Times noted, the reason that so many people in Oakland live in illegal warehouses, amid unsafe conditions, is because they can’t afford anything else in the nation’s 4th priciest rental market. What these articles didn’t report–or misrepresented–was how prices got so high. Since 2010, Oakland, like much of the Bay Area, hasn’t even remotely allowed housing construction to meet population growth, causing, as the numbers show, a blatant imbalance…[read the rest at Forbes]