Yesterday, Scott Lewis wrote a great piece on the logical inconsistencies of some of the the city’s affordable housing efforts.
One such policy, while having escaped Scott’s truculent attentions, nonetheless deserves to be highlighted as especially irrational. It is described in a recent Daily Transcript piece called "Sanders seeks action on affordable housing" (subscription required):
…the [San Diego Housing Commission] is continuing its efforts to expand homeownership through the creation of two new, first-time homebuyer programs…
Giving people money to buy houses artificially stimulates housing demand (sorry, "expands homeownership"), the effect of which is to render housing less, not more, affordable. It’s effectively a government subsidy for the housing bubble and entirely the wrong way to approach the problem.