The New York Times's Nobel laureate columnist, Paul Krugman, just might be making some sense: "the housing bubble was a geographically uneven affair. Basically, prices rose sharply only where zoning restrictions and other factors limited the construction of new houses."
The way I read that, he's not saying zoning is good because it raises property values, he's saying it's bad because it artificially inflates them.
Maybe they should give him a column in Reason magazine.
