Nosebleed Housing Prices Aren't Signaling What Experts Think

“The U.S. must build, baby.” The latter is the subhead to a recent opinion piece published at the right-of-center Manhattan Institute. Supposedly the easy answer to housing affordability is “build baby, build.” The left’s Ezra Klein and Derek Thompson are presently being lionized for promoting an “abundance” agenda of more homebuilding that will supposedly make homeownership more affordable. Isn’t bipartisanship great?

More realistically, it’s a reminder that the only thing scarier than ideological divide is agreement. It’s frequently a sign that both sides are totally missing the point. Let’s start with “build baby, build” and “abundance.”

 

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