No matter how successful an economy is, however, there are always going to be those who struggle. Because of the investment required, that struggle is often first apparent in the housing market, where costs regularly consume upward of 30 percent of a household’s income. Texas has some of the most inexpensive real estate in the country, but, even here, the cost of adequate housing can threaten to overwhelm residents trying to get ahead, especially in cities that deviate from the Texas Model. The periodic difficulty that Texans face with respect to securing an affordable home begs the question of whether the cost of housing in Texas—particularly in urban centers—can be reduced on a widespread basis.
Restoring Private Property Rights: Regulatory Takings
Municipal regulations like zoning ordinances can infringe on private property rights and distort the housing market. Key points: Private property rights are under threat from municipal zoning ordinances and design mandates. Texas law has failed to adequately protect property owners from regulatory takings. By closing the municipal loophole, Texas can be the national leader in...