Here is one episode:
Few appreciate that housing overregulation has blocked the old American way: moving to a higher-income part of the country to secure a better life. A paper by economists Peter Ganong and Daniel Shoag shows that housing costs now outpace wage gains: Although janitors and waiters earn the highest wages in the Bay Area, they must spend far more than their extra income on rent. The programmers and lawyers who move to the gold-rich areas are still coming forward, but the rest of the workforce is slowly moving out of Dodge. In a working society, self-interest encourages workers to move to wherever they are most productive. In our society, strict housing controls have reduced mobility and value, leading to the migration of many low-income people away from centers of technological development and economic growth.
Here’s the whole article, and don’t forget about Bryan’s new book on housing regulation Build, Baby, Build: The Science and Ethics of Housing Regulation.
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