July
16
2008
This report, authored by Edward Glaeser, Joseph Gyourko, and Albert Saiz, examines the relationship between housing bubbles and limitations on growth. The researchers use data on both regulations and natural barriers to building, such as hilliness, to classify metropolitan areas as places where builders face few limits, like Houston, and regions where builders are extremely restricted, like Boston. There is a strong link between housing bubbles and restrictions on development.