What they are showing is that if wage growth is stagnant across all levels, people can’t afford to pay more for a home. So prices don’t rise or at least not nea

What they are showing is that if wage growth is stagnant across all levels, people can’t afford to pay more for a home. So prices don’t rise or at least not nearly as much. This is a recipe for keeping us all poor as a means to control housing costs. On the other hand, if wages rise, but supply expands, home prices remain relatively decoupled from wage growth. This is the situation we want, but which zoning prevents. The old Alfred Twu cartoon captures the current dynamic of rising wages and rising home prices very well: https://www.instagram.com/cbinsights/p/B7v07LRFBqI/ https://www.instagram.com/cbinsights/p/B7v07LRFBqI/