No no, you're misunderstanding. The study did factor locality-specific inputs like the ones you're describing. In fact they included all of them by measuring the actual realized supply production for each locale.
They do matter a lot. I disagree with their conclusion that they don’t matter.
There is plenty of available evidence that when zoning laws are less restrictive and buildings get faster approval the overall cost of housing comes down over time in significant ways.
The way income factors into this tends to be driven by the fact that the weather the neighborhood the more time that is spent at city hall by residents lobbying for regulations to preserve their market values in their neighborhoods in order to achieve artificial local scarcity which drives the home values up.
no_wizard|11 months ago
There is plenty of available evidence that when zoning laws are less restrictive and buildings get faster approval the overall cost of housing comes down over time in significant ways.
The way income factors into this tends to be driven by the fact that the weather the neighborhood the more time that is spent at city hall by residents lobbying for regulations to preserve their market values in their neighborhoods in order to achieve artificial local scarcity which drives the home values up.
That’s what I strongly feel they didn’t quantify
jtbayly|11 months ago