Why are you surprised?

Reader comment on: Housing Cost and Regulation

Submitted by Jerry Skurnik (United States), Oct 31, 2017 18:03

Why are you surprised at this. Paul Krugman wrote something similar last year. He wrote "building policies in our major cities, especially on the coasts, are almost surely too restrictive. And that restrictiveness brings major economic costs. At a national level, workers are on average moving, not to regions that offer higher wages, but to low-wage areas that also have cheap housing. That makes America as a whole poorer than it would be if workers moved freely to their most productive locations, with some estimates of the lost income running as high as 10 percent."

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