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Pandemic's Disproportionate Effects on Housing Supply, Affordability

Posted To: MND NewsWire

The Urban Institute says that homes categorized as low priced, that is in the bottom 20 percent of the distribution, appreciated 126 percent between the turn of the century and the end of 2019. During that same 20-year period, those in the top 20 percent of the price distribution increased only 87 percent . An analysis of 285 metropolitan statistical areas (MSAs) by Jung Hyun Choi, John Walsh, and Laurie Goodman found that rapid employment growth combined with supply constraints from zoning and other regulations was one driver of this disproportionate price growth on the low end. Those MSAs with the greatest constraints on housing inventory experienced the greater price growth on the low end relative to the high. They measured this using two indices, Wharton Residential Land Use Regulatory…(read more)

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