TBT: Notes on Eminent Domain and the Housing Crisis

A Reconsideration of a 2006 Take on Takings in the Wake of Kelo v. New London

The National Low Income Housing Coalition says there are just four affordable housing units for every 10 extremely low-income American.

There is a rental housing crisis in the United States.

As the Associated Press reported over the weekend, rents have been skyrocketing, “causing many to dig deep into their savings, downsize to subpar units or fall behind on payments and risk eviction now that a federal moratorium has ended.”

The numbers are startling:

In the 50 largest U.S. metro areas, median rent rose an astounding 19.3% from December 2020 to December 2021, according to a Realtor.com analysis of properties with two or fewer bedrooms. And nowhere was the jump bigger than in the Miami metro area, where the median rent exploded to $2,850, 49.8% higher than the previous year.

One cause rarely discussed by the mainstream press is capitalism itself.

You can find the original column here, but you will need to subscribe to read my update.