> why is it that so many housing markets seem to be broken? Current residents have a vote in local elections. Current residents can organize lobbying groups th

> why is it that so many housing markets seem to be broken? Current residents have a vote in local elections. Current residents can organize lobbying groups that oppose new homes. Aspiring future residents don't have comparable political power. People who move to cities are young and poor. Then they make a career, benefit from the strong economy, become old, wealthy and experienced. Then they want to deny from the next generation the same benefits they enjoyed when they were young. Old rich people have both experience and financial means to influence politics, young and poor people don't.