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A big help would be reforming local land use codes: https://www.cato.org/publications/policy-analysis/zoning-land-use-planning-housing-affordability https://www
by jseliger 7y ago
A big help would be reforming local land use codes: https://www.cato.org/publications/policy-analysis/zoning-land-use-planning-housing-affordability https://www.cato.org/publications/policy-analysis/zoning-lan...:
This study reviews evidence on the effects of zoning and land-use regulation in three related areas: housing supply, housing affordability, and economic growth. The academic research on property regulation indicates that increased regulation is associated with a decline in supply, affordability, and growth. The literature indicates the effects are large, with a recent study suggesting that—because of regulation—economic growth declined by 50 percent and economic output declined by 8.9 percent between 1964 and 2009.
Imagine having everyone's usable income rise between 8.9% and as much as 50%! That's a huge benefit. We are seeing some efforts in that direction: https://www.penguinrandomhouse.com/books/585765/golden-gates-by-conor-dougherty/ https://www.penguinrandomhouse.com/books/585765/golden-gates... but not as much as we should.