don't disagree with any of Robert Shiller's facts here, but this type of analysis is largely irrelevant for humans http://nyti.ms/29DAPg6
were eating it in coastal markets https://www.whitehouse.gov/sites/default/files/page/files/20151120_barriers_shared_growth_land_use_regulation_and_economic_rents.pdf … SF even in times is only +2,700 units
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zoning matters but can be changed to match market. Delays in approval playing strong rolepic.twitter.com/0FFPK4KVp6
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"zoning can be changed" is economic claim akin to "winnings from trade can be redistributed." In theory, yes.
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