Building restrictions are the problem

Washington Post:

Limiting luxury housing is a terrible way to help the poor, economists argue.
It is not just the poor who are harmed by building restrictions.  Places like  coastal California are driving out the middle class with their building restrictions that leave people to bid up the price of aging housing stocks.  Little bungalows that would be in poor neighborhoods become half million dollar homes in the San Francisco area and part so LA.   And in the rare instances where houses can be built in the area, they cost three times what comparable houses cost in Dallas and Houston.

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