The article also completely ignores the effects of "easy money" in the price inflation of housing costs. By "easy money" I mean the period there where the bank

The article also completely ignores the effects of "easy money" in the price inflation of housing costs. By "easy money" I mean the period there where the banks would give almost anyone with a pulse a huge size loan for a house purchase. Because everyone was running around with an outsized "money press" in the form of their approved bank loan value, they were quite capable of bidding prices up, which is exactly what they did. Therefore, as to this cause of the price inflation, it somewhat inverted the supply/demand curve in that prices rose to accommodate greater supply of money in the hands of prospective purchasers. Yes, building restrictions do play a part, but fully ignoring the effects of using very cheap "other peoples money" for bidding on houses ignores another significant factor in the inflation effect.