Housing market needs regulatory reform

According to a report in last weekend’s business section of the Williamsport Sun-Gazette, tenants in manufactured homes are concerned about the pace at which the state Legislature is debating legislation to address the rent increases with which they are contending.
According to The Center Square, a package of proposed bills would tie lot rent increases to the consumer price index, while allowing increases to cover extraordinary operating expenses or repairs.
While we have reservations about this exact approach, we must reiterate that the cost of housing remains a critical issue confronting our region and our state.
We appreciate that local leaders and local legislators are attempting to address the issue. As we remain hopeful that their efforts succeed, we continue to believe that new construction, allowing the free market to offer the consumer choices that have proven to be an effective approach to curtailing rising prices, is a pivotal step.
And, as we have editorialized before, streamlining or simplifying the regulatory burdens that developers and employers face is an enormous part of that step.
Eliminating excessive and frankly at times counterproductive regulations allows developers to build more housing while spending less capital — two factors that are surer to help communities offer affordable housing than anything that signals price controls. And, of course, the benefits to a lean, responsible climate of regulatory hurdles goes well beyond housing. We are confident businesses across the spectrum of industries and sectors will be better positioned to offer competitive pay and benefits to employees or more stable prices to consumers or — hopefully — both if the state reduces the costs of regulatory compliance.
The free market’s track record is clear — as clear as the steps our state and our communities need to take for families living in Pennsylvania.