a column by Andrés Rodríguez-Pose and Michael Storper for VOX: CEPR’s Policy Portal
A dominant view in urban economics suggests that the solution to the housing crisis of major cities is to relax zoning and other planning regulations.
This column challenges this position, arguing that there is no clear and uncontroversial evidence that housing regulation is a principal source of differences in home availability or prices across cities and that these issues are more linked to rising inequalities in the geography of employment, wages and skills.
Blanket changes in zoning are unlikely to increase affordability for lower-income households in prosperous regions, but would increase gentrification without appreciably decreasing income inequality.
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