> I blame monetary policy for too-low interest rates, which drive up housing prices. I also blame over-restrictive zoning and other restrictions on building tha

> I blame monetary policy for too-low interest rates, which drive up housing prices. I also blame over-restrictive zoning and other restrictions on building that cause houses to be more expensive. medium-term monetary policy hardly has anything to do with it. Rather, the paradigm of single-family zoning makes it pretty hard to build dense communities en-mass, so the shortage of supply has lead to ever-increasing home prices.