The ceo of Zillow did an interview with npr and he said the reason prices are high is because the recession caused new construction to stop for a while which re

The ceo of Zillow did an interview with npr and he said the reason prices are high is because the recession caused new construction to stop for a while which resulted in a shortage. A shortage combined with very high wages would result in what we see now. Admittedly, regulation has probably exacerbated the problem by making it more difficult to build, but that didn’t matter until we were behind. I would definitely believe him before any of the armchair real estate experts in these comments I must say.