Peer reviewed2003United States

The Impact of Building Restrictions on Housing Affordability

Glaeser & Gyourko

Main finding

In expensive markets, home prices often exceed construction costs by far more than ordinary land costs can explain, implicating limits on building.

Most important limitation

This is an indirect, cross-sectional test rather than an evaluation of one reform.

How this study is used

Reference

Glaeser & Gyourko (2003). “The Impact of Building Restrictions on Housing Affordability.”