“New York has made it so difficult to build that you forget what free and easy supply really does,” said Harvard economics professor Ed Glaeser, who co-authored a study a decade ago that found that half of the cost of housing in Manhattan could be blamed on artificial supply constraints. “Chicago remains a vastly more affordable city because Mayor Daley unleashed the cranes on Lake Michigan”—a reference to the Windy City’s far more lenient land-use regulations and commensurate low rents.
Posted on: Wed, 19 Jun 2013 18:49:04 +0000
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