Matt Mahan

puts you in an impossible situation down the road where you have the lucky folks who are covered by rent control and are kind of, they can't move, there's no social mobility, you're kind of stuck in your apartment because you can't let go of this rent control department or you'll be homeless, and then you have no supply and all of society's worse off.

That's a hard thing, though.

I mean, we know what the right public policy answer is.

The research, I think, is quite clear.

And yet it's a lot easier as a politician to go out there and just say the rent's too high.

We're just going to expand rent control to every unit and you'll be better off.

But in the long run, we will all be worse off.

I think our biggest challenge around housing and homelessness is that we broke the housing market in California.

It's really hard to get anyone to invest in building the housing that we need because the market isn't predictable.

It's very expensive.

It's very slow.

I trace this back to

a very positive movement around environmental protection coming out of Rachel Carson and Silent Spring.

And we started with setting growth boundaries around our cities and said, we don't want to keep sprawling out.

Then we added countless environmental regulations on top of that.

We've really enhanced our labor standards.

preservation of historical sites, respect for tribal lands and Native American remains that may be in the ground.

We've added traffic impact fees.

Now you build a building and you've got to have all these offsite improvements and do bike lanes and bioswales and all these, really worry about all the water runoff.

All of it is very well intended.