Another way in which government creates housing bubbles 

Liberal blogger Matt Yglesias consistently unearths the negative effects of bad zoning. He’s done it again today with a post on how zoning can help drive real estate bubbles. Yglesias’s conclusion: “most land-use restrictions don’t prevent development, they just force it to be inefficiently low-intensity. Such laws are bad for the environment, chewing up space and wasting energy, as well as economically harmful.”

Left and Right can agree that more stability in real estate markets would be a good thing. We can also find overlap in opposing zoning laws that make the world less walkable and force us to drive more.

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Timothy P. Carney

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