![]() In terms of how we’ve gotten to this point, in the 19th century, we did actually have something of an urban housing crisis. It’s a supply shortage, especially near high-wage jobs and high-amenity locations. So basically, we’re all poorer, in addition to, again, if you want to live somewhere, it’s odd that we have rules that say, you’re not allowed to live here you’re not allowed to build a home here.Ĭan you explain your view on America’s housing crisis and how we’ve gotten to this point? incomes over the course of the 20th century have grown probably 30% slower than they would have if more people were allowed to live in Silicon Valley, New York, etc. So basically, until 1980, people tended to move to where wages were highest, and wages were slowly equilibrating between regions, and since 1980, people have begun moving towards where housing costs are low instead of where wages are high. People have begun to move where housing costs are low instead of where wages are high. But beyond that, we’ve basically turned our highest-wage labor markets into gated cities. ![]() Just because you’re born in the Bay Area, doesn’t mean you should be forced to migrate somewhere else, or if you’re born in the five boroughs of New York City, that you’re forced to migrate somewhere else. On the one level, there’s a basic, you might call it a lowercase “l” libertarian intuition that the government shouldn’t order people where to live. ![]()
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