We’re pleased to share a new study produced by the London School of Economics’ International Inequalities Institute: “Inequality, Not Regulation, Drives America’s Housing Affordability Crisis.” To quote from the extensively documented study:

A popular view holds that declining housing affordability stems from regulations that restrict new supply, and that deregulation will spur sufficient market-rate construction to meaningfully improve affordability. …[T]hat… ‘deregulationist’ view rests upon flawed assumptions.…[T]he key claim used to sell deregulation to the public, improving affordability, does not hold up to scrutiny…supply restriction is not principally responsible for declining affordability. 

We’ve been saying the same thing for years, and showing it in study after study, but we couldn’t have said it better ourselves. And of course having some of the most respected minds in planning and housing, from five universities and three countries, demonstrate what we’ve long known and said, is deeply gratifying. But will policymakers listen? Not only former Mayor Adams, but many of our city’s leading decision-makers have espoused this discredited theory that sensible development regulations and a lack of supply are causing unaffordability, and that stripping away regulations to stimulate maximum development will lift all boats.  

TO HELP: