The renewed interest in rent control, however, weakens that focus on addressing the problem by trying to manage the effects.

High spending does not automatically produce high performance. Residents care less about the size of a budget than whether streets are safe, permits are issued quickly and public services function reliably. The more useful question is not whether cities spend enough. It is whether they spend effectively.

Cities are no longer simply seeking to attract new employers or subsidize major projects. They are attempting to reshape entire land-use patterns and local economies.

On average, Californians who move out of state relocate to neighborhoods where housing costs are about $672 lower per month.

Austin’s lesson is cumulative. The city made it easier to build apartments near jobs and transit, eased rules for accessory dwelling units, reduced and then largely eliminated parking mandates, used density bonuses to trade added height for income-restricted housing and backed affordable projects with bond funding.