Economics Nobelist Paul Krugmann, Harvard economist Edward Glaeser, and Financial Times Columnist (with masters in Economics) Tim Harford and others have been w

Economics Nobelist Paul Krugmann, Harvard economist Edward Glaeser, and Financial Times Columnist (with masters in Economics) Tim Harford and others have been writing about this. It has to do with "rent-seeking" using politics to create artificial scarcity, in this case scarcity of housing though zoning density restrictions and overuse of historic landmark status. The rent-seeking creates microeconomic market inefficiencies. Ultimately, I believe there will have to be federal laws to break up the "rent-seeking" in cities. Another example of "rent-seeking" was the artificial limit of 13,000 taxi medallions. The market value of a single medallion rose to $1.2 million until Uber/Lyft came along and increased the supply of taxi-like vehicles. Now the market value is <$700K. See: Build Big Bill by Glaeser: http://www.nydailynews.com/opinion/build-big-bill-article-1.1913739 http://www.nydailynews.com/opinion/build-big-bill-article-1.... Tim Harford: The Undercover Economist https://www.amazon.com/dp/0199926514 https://www.amazon.com/dp/0199926514