This paper reviews trends in housing affordability in the US over the past four decades.
There is little evidence that owner-occupied housing has become less affordable. In …

Problem, research strategy, and findings In light of recent debate over upzonings and
leveraging markets as means of expanding housing opportunity, I review the evolution of …

From the Industrial Revolution to the age of artificial intelligence, The Technology Trap takes
a sweeping look at the history of technological progress and how it has radically shifted the …

In this essay, we review the basic economics of housing supply and the functioning of US
housing markets to better understand the distribution of home prices, household wealth, and …

We quantify the amount of spatial misallocation of labor across US cities and its aggregate
costs. Misallocation arises because high productivity cities like New York and the San …

How have house prices evolved over the long run? This paper presents annual house
prices for 14 advanced economies since 1870. We show that real house prices stayed …

A wide array of local government regulations influences the amount, location, and shape of
residential development. In this chapter, we review the literature on the causes and effects of …

Growing numbers of affordable housing advocates and community members are
questioning the premise that increasing the supply of market-rate housing will result in …

I process satellite-generated data on terrain elevation and presence of water bodies to
precisely estimate the amount of developable land in US metropolitan areas. The data show …

The rise in subprime lending and the ensuing wave of foreclosures was partly a result of
market forces that have been well-identified in the literature, but it was also a highly …