NC Media Watch

A quest for reason and accuracy in letters to the editor, guest editorials and other issues of interest to the citizens of Western Nevada County.

Monday, March 07, 2005

Understanding our rising housing prices

I mentioned a Harvard Study on Why Have Housing Prices Gone Up? in a 20 Feb 2005 post. See Archive. I now have a link to the whole Harvard Institute of Economic Research study by Edward L. Glaeser, Joseph Gyourko, Raven E. Saks.
In sum, the evidence points toward a man-made scarcity of housing in the sense that the housing supply has been constrained by government regulation as opposed to fundamental geographic limitations.8 The growing dispersion of housing prices relative to construction costs suggests that these regulations have spread into a larger number of local markets over time. Moreover, they appear to have become particularly severe in the past 2-3 decades.
The study can be down loaded free here,

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