Before you get your panties in a bunch, read the fine print. This panel forwarded proposals, nothing was passed and the panel has no power or money. This is an advisory panel that exists for the sole purpose of positive media spin. The City of San Diego doesn’t have the money to price fix the chocolate milk supply, let alone the price of real estate. The County is a little busy with the fire aftermath and it will spend it’s discretionary dollars to help those burned out, not foreclosed on. In fact assisting in the rebuilding of housing units is a contradiction to to trying to control supply, but they will do it.
No branch of the government can control the price of housing, the invisible hand of economics is not a bedtime story, it is an economic law that has never been denied despite great efforts. Local government cannot print money and does not have the ability to pull financial levers like the federal government and they have proven powerless. I wouldn’t plan my life around a local government advisory panel and I wouldn’t have given it any of my time had you not panicked over it, calm down, all is well, it’s just noise.
