EconTalk
Why Housing Is Artificially Expensive and What Can Be Done About It (with Bryan Caplan)
Oct 21, 2024
Bryan Caplan, a Professor at George Mason University and author of 'Build, Baby, Build', dives into the complexities of the housing market. He discusses how excessive regulations are driving up housing costs in places like the U.S. and Israel. The conversation explores the balance between urban charm and necessary development, as well as the surprising environmental benefits of urban density. Caplan also challenges common views on homeowner and renter perspectives regarding housing policies, advocating for deregulation to enhance affordability.
01:06:26
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Quick takeaways
- Regulatory environments significantly inflate housing costs, thereby disproportionately affecting low-income individuals and necessitating policy reevaluation for affordable access.
- The mismatch between population growth and restrictive building regulations exacerbates housing shortages, illustrating a critical need for increased supply through deregulation.
Deep dives
The Importance of Housing Regulation
Housing regulation plays a crucial role in the economy, representing a significant portion of individual budgets in the United States. Beyond its direct impact on housing prices, regulation also influences broader societal issues such as social mobility and inequality. The restrictive regulatory environment has led to increased housing costs, which disproportionately affect the lower income segments of the population. This underscores the need for a reevaluation of housing policies to ensure they support rather than hinder access to affordable living options.
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