There is No Housing Bubble, It’s a Shortage
Yet another article explaining how high housing prices are a result of limited supply. The last sentence states the reason for this limited supply.
For many families still trying to buy their first homes, their only hope lies in politicians waking up to the reality that the best way to keep housing affordable and to avoid the looming housing shortage is to stop passing land use and housing regulations and start approving more housing construction.
In other words, stop trying to manage homebuilding with “smart growth” initiatives and let construction companies just build housing. Or pay the price.
Whole article here.
dn