The affordable housing crisis in San Diego has reached critical levels, prompting County Treasurer Larry Cohen to weigh in on potential solutions. In a landscape where job growth continues to outstrip home construction, Cohen's insights bring some much-needed clarity. A recent study from NYU economists made waves by suggesting a correlation between property taxes and housing prices, particularly when comparing California and Texas. But is raising property taxes really the answer?

Cohen argues that the real issue resides in the chronic undersupply of homes in the region. He highlights how San Diego has added jobs rapidly over the years, while housing options simply haven't kept pace. High construction costs and the regulatory maze involved in building new homes are compounded by geographic limitations—there just isn't much room to go around with mountains and oceans hugging the coastline.

Instead of raising taxes, Cohen advocates for a thorough examination of regulations to boost housing supply. It's a refreshingly grounded approach in a market hungry for practical solutions. Who knows, the road to affordable housing might just require a little less tax talk and a whole lot more innovation! After all, when the ocean’s the limit, punching through the bureaucracy might be a better plan than raising our taxes.