It’s not just the natural state in a competitive housing market. The locations with the greatest rise in housing costs tend to have a higher degree of regulator

It’s not just the natural state in a competitive housing market. The locations with the greatest rise in housing costs tend to have a higher degree of regulatory capture, NIMBYism, and less competition and investment in housing. One reason for the migration to the southeast over the last decade is that housing costs have risen more in line with inflation than other areas. It’s just much easier and less expensive to invest and build.