Post by High Priestess on Aug 19, 2016 3:25:57 GMT
See the article which shares the same point of view I presented in my blog on this issue:
www.independent.org/newsroom/article.asp?id=8847
My blog on this issue:
globalhostingblogs.com/2015/12/18/airbnb-and-the-housing-crisis/
AN excerpt from the article:
Airbnb’s critics worry that if short-term rentals are not restricted, housing costs will rise by reducing the stock of permanent rentals. But if high rents and home prices are really their main concern, they should direct their attention to the main culprit: local government regulations.
In my book, “Housing America: Building Out of the Crisis,” co-edited with Randall Holcombe, we document the many ways in which government regulations have made housing less affordable. Land-use restrictions, minimum lot sizes and setbacks, impact fees, permit moratoria, “below-market” mandates, urban growth boundaries and other policies all limit housing supply and decrease housing affordability.
A classic study by economists Edward Glaser of Harvard and Joseph Gyourko of the University of Pennsylvania examined the effect of government restrictions on housing prices in several markets around the United States. They found that 90 percent of the difference between physical construction cost and the price of new homes could be attributed to government restrictions on development. Only 10 percent of the difference was due to the intrinsic scarcity of the land.
www.independent.org/newsroom/article.asp?id=8847
My blog on this issue:
globalhostingblogs.com/2015/12/18/airbnb-and-the-housing-crisis/
AN excerpt from the article:
Airbnb’s critics worry that if short-term rentals are not restricted, housing costs will rise by reducing the stock of permanent rentals. But if high rents and home prices are really their main concern, they should direct their attention to the main culprit: local government regulations.
In my book, “Housing America: Building Out of the Crisis,” co-edited with Randall Holcombe, we document the many ways in which government regulations have made housing less affordable. Land-use restrictions, minimum lot sizes and setbacks, impact fees, permit moratoria, “below-market” mandates, urban growth boundaries and other policies all limit housing supply and decrease housing affordability.
A classic study by economists Edward Glaser of Harvard and Joseph Gyourko of the University of Pennsylvania examined the effect of government restrictions on housing prices in several markets around the United States. They found that 90 percent of the difference between physical construction cost and the price of new homes could be attributed to government restrictions on development. Only 10 percent of the difference was due to the intrinsic scarcity of the land.