Part 3/11:
However, behind these headlines lies a stark truth: their policies and political stance have significantly contributed to the under-supply of housing. Excessive regulation, layers of taxation, and cultural resistance to development—particularly from environmentalist factions—have created a hostile environment for builders. To put it plainly: when government officials are perceived as anti-business, they effectively become anti-public safety and anti-efficiency, fostering a crisis of trust among developers and investors.