There was a study I saw a few years ago on a large number of lots in the New York suburbs that tried to tease out how much of the cost of a house was the value

There was a study I saw a few years ago on a large number of lots in the New York suburbs that tried to tease out how much of the cost of a house was the value of the land and how much was regulatory. They looked at the prices of lots with dilapidated houses that needed to be rebuilt but which could be rebuilt as of right by the new owner. And they compared them to the price of empty lots where you would need to get regulatory approval to build a house where none had existed before. They found that lots that come with the right to build cost several times what other empty lots cost.