Friday, February 15, 2008

Land Use Restrictions: The Hard Dollars

I'd often heard that advocates of highly restrictive land use policies could be motivated by more than environmentalist and idealized urban planning goals: the increase in the value of their own homes due to the housing scarcity that this creates (see: the Bay Area).

I came across this link talking about a study done on Seattle housing prices in recent years. It concluded that roughtly $200,000 of the rise in the average home cost was due to land use restrictions (that's 88% of the total average cost increase)!

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