Articles
Are Wages Keeping Pace?
[Subscription Required] The short answer is no. The problem, however, is inflation, not asset values.
October 29, 2026
Published March 10, 2020
Well-intentioned housing policies have made it expensive and often impossible to build enough homes to meet rising demand. Zoning laws, environmental rules, and other land-use restrictions have been implemented too broadly, making it difficult to add new housing. Changes to these policies could add trillions of dollars to the US economy and raise standards of living for low- and middle-income Americans.
Discussion Questions
- What is your preferred way to promote affordable housing?
- Is it possible to protect the environment while rapidly increasing the housing supply?
Additional Resources
- Read “Housing Policy Reform: Economic Policy Challenges Facing California’s Next Governor” by Lee Ohanian and Jesús Fernández-Villaverde, available here.
- Read “So You Want to Move to California and Buy a Decent Home? Here Is How Much You Need, and Why” by Lee Ohanian, available here.
- Read “How Long Does It Take to Build a New Community in California? 25 Years and Still Counting” by Lee Ohanian, available here.
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