Recent research finds that many people want lower house prices but, contrary to the consensus of experts, do not believe that more supply will lower prices. This study examines the effects of four informational interventions on Americans’ beliefs about the housing market and policy preferences associated with political action (writing to state lawmakers). Several interventions significantly and positively affected economic understanding and support for land use liberalization, with an average effect size of 0.15 − 0.3. The high-impact treatment—an educational video from a group of advocates—had 2-3 times greater effects than treatments with conventional economic information or political messages. Learning about the housing market increased support for the development among homeowners as well as renters, contrary to the “home voter theory.” The treatment did not significantly affect the likelihood of writing to lawmakers, but a randomized analysis suggests that the advocacy video increased the number of messages asking for more housing on the market.
Here’s more from Christopher S. Elmendorf, Clayton Nall, and Stan Oklobdzija. Here is the video.
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