Urban Land-Use Controls and the Subprime Mortgage Crisis

In: The independent review: journal of political economy, Band 13, Heft 4

Abstract

From 1992 to 2006, the price of houses in the United States nearly tripled, primarily because increasingly stringent, local government land-use controls hampered the construction of urban housing. A full accounting of the U.S. mortgage crisis must recognize the role these restrictions played in distorting the market for subprime loans. Adapted from the source document.