Zoning Reform Alone Won't Make Housing Affordable: Noah Smith

February 4, 2019                   By: Bloomberg

A new paper finds that zoning reform in big cities makes land more expensive without necessarily creating more housing units.

(Bloomberg Opinion)—During the past few years, it has become clear that housing affordability is a major challenge facing the U.S. Rent is consuming an increasing percentage of consumers’ paychecks:

The problem has become especially acute in big cities and technology hubs like San Francisco:

One of the most popular solutions being proposed is zoning reform. Rules that limit density — especially single-family zoning — restrict the amount of housing available near a city center, and make it difficult for people of modest means to live near transportation hubs and employers. When Minneapolis recently voted to end single-family zoning, it was hailed as a victory for racial and economic justice. Meanwhile, presidential candidate, Senator Elizabeth Warren, has made zoning reform a centerpiece of her housing affordability bill. Even Housing and Urban Development Secretary Ben Carson has vowed to attack restrictive zoning...........................Read More