The invisible laws that led to America’s housing crisis

Single-family zoning laws started out in the early 20th century with good intentions: To protect home values and homeowners’ quality of life. But along the way, they went awry. “Strict single-family zoning regulations limited housing supply, artificially raised prices, squandered the dream of homeownership for future generations, and blocked families from moving into neighborhoods with better schools and job opportunities, researchers and advocates say,” according to the author. Now, about 75 percent of land zoned for housing in cities is relegated to single-family homes, and the “zoning tax” -— the amount land prices are artificially inflated due to restrictive residential zoning laws — is estimated at up to $400,000 per house in places like San Francisco. This has caused a crisis that’s resulted in the YIMBY (Yes In My Back Yard) movement to correct policies that artificially suppressed housing stock, and some places are successfully removing some of the roadblocks needed to expand housing development.

Source: https://www.cnn.com/2023/08/05/business/single-family-zoning-laws/index.html