True, true. But that is another downside of regulation. It drives up the cost of construction & landlords don’t want to wait forever to recover their costs & profit from their asset.
I keep remembering a ‘garage’ my husband & I built on our former property. It was a kit that we got through Home Depot (I think). We had to have someone come in & do the foundation, & we had help with the roof. But the kit itself was set up to meet Florida hurricane standards. It came with 3 50 lb boxes of nails & screws! Definitely overkill for a simple 12 x 24 garage that we used for our garden tools & supplies.
“that is another downside of regulation. It drives up the cost of construction & landlords don’t want to wait forever to recover their costs & profit from their asset.”
That’s another aspect of my recurring observation “the Left is trying to solve poverty by making it illegal”.
Rent prices too high?
Left prohibits rent above $X/mo, because poor can’t afford high rent.
Market responds by reducing amenities.
Amenities below arbitrary “quality of life” standard?
Left prohibits lack of amenities (broadly speaking), because poor can’t afford to supply own amenities.
Market responds by reducing apartment size, matching high-income/low-needs renters.
Size is “too small”?
Left prohibits apartments under a given size, because poor can’t fit a family of 4+ therein.
Market responds by emptying the buildings, takes real estate loss tax deductions, abandons the property, and goes where allowed to sell what customers can afford.
Would-be renters can’t find any housing?
Left...has, for all practical purposes, made poverty illegal.