This is an economic failure, but not a market failure. The failure is precisely because of rising land-use restrictions obstructing the market, especially in ke

This is an economic failure, but not a market failure. The failure is precisely because of rising land-use restrictions obstructing the market, especially in key centers of the economy, like New York, and especially since the 1960s: https://eml.berkeley.edu//~moretti/growth.pdf https://eml.berkeley.edu//~moretti/growth.pdf