We are already at the lower bound. We have already lost human dignity. You either need to afford 1k per month or be homeless. This homelessness is to spare them the indignity of living in a 350 sqft efficiency?
Build more housing. Remove parking minimums. Remove minimum unit sizes. End density restrictions. 8 units on every lot.
1. https://cepr.org/voxeu/columns/declining-elasticity-us-housi...
>The more inelastic housing supply becomes, the more rising demand translates into rising prices and the less into additional housebuilding.
My argument is that we should remove barriers to building housing so that increases in demand (it is already very high) translate into more houses. Landlords aren't the problem. The single family zoning that constrains supply is.
> a simple regression of the log median rental share on the rental price index, recovering a median expenditure share, sy, of 22.5 percent, and an implied price elasticity, εy,p of -0.83. ... The regression line has slope β1 = −β2 in equation (5b), with β3 = β4 = 0 imposed. Both slopes are positive and statistically significant, indicating demand is price-inelastic