Great paper.
It's no coincidence that the urban rent CPI started diverging from real household incomes around the time there was a major permitting downturn in every major U.S. city.
Incidentally, this downturn preceded the Great Financial Crisis.
It's no coincidence that the urban rent CPI started diverging from real household incomes around the time there was a major permitting downturn in every major U.S. city.
Incidentally, this downturn preceded the Great Financial Crisis.
https://twitter.com/mattyglesias/status/1913583861583184340
America has experienced a permitting disaster that it's never managed to fully recover from.
Fixing this alone would deliver enormous benefits to the whole American economy by improving labor mobility.
Fixing this alone would deliver enormous benefits to the whole American economy by improving labor mobility.
There are many reasonable published estimates of how big an impact this would have and they're almost all huge.
This is in no small part because land use is such a binding constraint on growth. As Matty's linked article points out, it's an increasingly big one.
This is in no small part because land use is such a binding constraint on growth. As Matty's linked article points out, it's an increasingly big one.
Pro-growth reformers must target land use. It is some of the lowest hanging fruit to boost economic growth rates, but it is also among the hardest to pick due to the local nature of zoning.
Sources:
cremieux.xyz/p/brief-data-p…
x.com/cremieuxrecuei…
cremieux.xyz/p/rich-country…
Sources:
cremieux.xyz/p/brief-data-p…
x.com/cremieuxrecuei…
cremieux.xyz/p/rich-country…
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