3 ms·
> but is an untenable conclusion if housing is supplied in a competitive market Housing is not a very competitive market. Entitlements (whoever first claims la
by bufordsharkley 10y ago
> but is an untenable conclusion if housing is supplied in a competitive market
Housing is not a very competitive market. Entitlements (whoever first claims land can generally hold onto it) and policy (predominantly zoning), leads housing stock to be fairly inelastic to demand, and those supplying housing tend to be price-takers.