Prices for rents and mortgages need a price cap.
Access to housing should be mandatory. One way is to create management models based on public utility companies, as this is done for the phone, natural gas and electric companies that are all regulated. These public utility contracts between company and customer are already in place and codified. I'm not suggesting using these large bureaucratic complex covenants and administration be replicated. A plain simple set of formulas and codes should be used to pass into law.
The past and near present model to rent or own is based on 30% to 33% RTI (rent-to-income) or LTI (loan-to-income) of the average person's wage. This has gone up because of dual incomes, or two people pooling their income. Nevertheless, this dual income calculation should be discarded based on the realities that individuals should not be discriminated against because of being single. Also, not to penalize couples requiring them to pay double because they are living together is also not fair.
When one or two people are applying for a two bedroom home, townhouse, apartment or condo they would now pay based on one income, and not more than .22% RTI of one person's AGI income. Whether one or two people are living together should not change the rent or the mortgage amount paid.
Most importantly, this amount of rent or mortgage paid there would be a cap "capped" on each individuals' average weighted income living in each zip code. Couples' income should be left out of the pool to find a weighted average. The amount of rent or mortgage paid could be lower, so the amount would be flexible as long it is below the amount capped.
Rent or mortgage would have to be "capped" based on the weighted average income of all of the individuals' income living in each zip code to be successful. The traditional and recently used model to rent or own used was based on 30% to 33% RTI (rent-to-income) or LTI (loan-to-income) ratio models. This would now be .22% AGI (adjusted gross income) ratio allocated and calculated model based from the individuals' weighted average income by zone or zip code and codified into law.
The amount of all property whether single residence or rental apartment rentals, apartment complexes would be divided by a factor and by number of units. The sale price could not be sold for more than an amortized loan amount or sale price "cap" of .22 percent of the average weighted income of that zip code. So, the rent or sale price would never be higher than .22 percent AGI of the weighted income average of each zip code. The rent or sales price could below the weighted income average of .22 percent.
This weighted average should definitely not be based on couples living together for this would skew the average income to an artificially high quantile. The goal for finding affordable housing should be quality of life aspect, therefore also allowing for highest expendable income left over for the individual(s), and not for the vulture capitalist. Couples should not be penalized for finding a relationship.
The weighted average of AGI income of .22% LTI (loan-to-income) percent allocation of income for housing or to buy sounds good. An absolute of down payment for calculating a fair universal amount would have to be used, such as 10% down payment or less. The now and future set percentage of .22% RTI based on the weighted average of individuals' AGI income by zip code to rent sounds good.
This weighted average income could be calculated every 3 years. (You need at least 3 years for a good weighted average).
This floating weighted average would cap the sale price by .22 LTI.
This floating weighted average would cap the rent amount to .22 RTI.
This would stop or slow down the churning of real estate properties by wildcat and vulture capitalist considerably.
This would stop the churning of real estate by vulture capitalists, which is imploding our way of life or affordable housing in the State of California.
Mixed zones would need be parceled at similar blocks and further levels. For instance, apartment blocks and replacement large craft houses that happened to be in the same zip code would be divided and averaged in their similar block pools.
As for the argument that this would be un-free-enterprise or contradiction that created our successful laissez-faire system. To be blunt, the average American has not betrayed the free enterprise system, the American wildcat investor and lately the global vulture capitalist has buried and betrayed our fair market housing system in the last few years due to the out priced zenith rents and skyrocketing cost of housing by churning our real estate market to level of racketeering we have not seen this sense the great tulip crash. Now it is time for Government of the people, by the people, for the people to act swiftly and resolutely to stop their damage to our quality way of life.
In conclusion, rents and real estate of residential residences must be "capped" based on the weighted average of single individuals' income living in similar zones.