>Even if that was true, regulatory permitted access largely effects rent through land acquisition costs, not independently of it, so it would explain why both l

>Even if that was true, regulatory permitted access largely effects rent through land acquisition costs, not independently of it, so it would explain why both land acquisition costs and rents were higher than they would otherwise be, but not why rents are higher than they would be expected to be given costs to landlords including land acquisition costs. >>reasonable economic equilibrium Sorry for the delayed reply: Please see >reasonable in the above, there is nothing economically reasonable about the CA market distortion. Rents are higher than they would expected to be given costs not unjustifiably burdened by regulatory permitting. Which would be the (or at least a) reasonable standard for determining what rents should be at equilibrium which provides a basis for what rents should be in the real world and clearly indicates that rents in the real world are excessively high and not economically justified. I don't see where I've been unclear about this.