This is the real answer, not the pat “no one builds new used cars” nonsense. It is entirely possible to build new, no-frills apartments that are 100% habitable and to code. But because of all the regulatory boxes one needs to check — namely all the fees spent, and time spent waiting for seemingly endless approvals — it is simply not possible to rent out bottom-dollar builds at a low market rate. The same logic applies for single family homes sold for purchase. The startup costs are just too damn high.

It's simplistic to say that the US car market is "regulated out of existence".

Consider how huge trucks that mow down children because they can't even be seen over the hood are unregulated, even incentivised. (1)

Wrong regulation, maybe. But not merely "too much regulation".

1)

https://news.ycombinator.com/item?id=36480122

https://www.nbcnews.com/news/us-news/americas-cars-trucks-ar...

https://www.vox.com/future-perfect/24139147/suvs-trucks-popu...