Part 10/12:
In California, despite high taxes and regulations, efforts to increase housing density have been met with skepticism, as demand continues to outpace supply. Despite legislative attempts to make it easier to build affordable housing near transit hubs, persistent demand and limited supply keep prices high, effectively making such measures ineffective in reducing overall living costs.
Looking Ahead: The Future of Washington’s Economic Landscape
The trajectory suggests ongoing inflation in living costs, driven predominantly by policy choices. Additional tax hikes, regulatory burdens, and restrictive supply-side laws will likely keep pushing prices higher. Infrastructure spending, while necessary, is often hampered by burgeoning costs and red tape, further exacerbating delays and costs.