The economics of housing supply is more controversial and less certain than you think
Wouldn’t it be great if we had a coherent way of understanding the economics of housing supply?
You might be surprised, given the confidence of the prognostications of public commentators, that most don’t have a broadly accepted economic theory of why homes are built.
It’s all ad hoc and often contradictory.
Here, Tim Helm walks through the main empirical patterns that need to be explained by our economic theory of housing supply, and steps through why most current approaches are a poor fit.
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https://www.fresheconomicthinking.com...