Urban 11-4 - Urban Economics Lecture 11-4 Zoning...

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Urban Economics Lecture 11-4 Zoning (continued): 1. Suburbs 2. UGB, Smart Growth 3. The problem In the suburbs, many obstacles to building housing "exclusionary zoning" fungibility- if you have something you can sell, you won't have too much of it zoning- a police power, not fungible, people have this right to exclude, and they use it inefficiently much can't buy it from the people in the town because they can't sell it metropolitan areas or states that have stricter zoning (parking permits, etc.) have more expensive housing, poor people pay a lot more in heavily zoned metropolitan areas (even more so than middle class people) there is more homelessness in metropolitan areas, there is higher rent housing is supplied less elastically good shock- response to housing, prices of houses increase NYC, Boston, LA, Chicago- a lot of zoning, good thing happens, housing prices increase Vegas, Phoenix, Houston, Dallas- little zoning, good thing happens, nothing happens to housing prices amount of zoning is not exogenous
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Urban 11-4 - Urban Economics Lecture 11-4 Zoning...

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