The most expensive markets often issued the fewest permits.

High price-to-cost ratios cluster toward the low-permitting side of the metropolitan comparison.

FROM THE PAPERFigure 8 · Price-to-cost ratios and permitting

Source: Glaeser & Gyourko (2018) · Figure 8; PDF p. 37

Keep in mind: Metros differ in geography, amenities, and demand; this cross-section is evidence of a pattern, not a causal effect.

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High price-to-cost ratios cluster toward the low-permitting side of the metropolitan comparison.

Source: Glaeser & Gyourko (2018)
Figure: Figure 8 · Price-to-cost ratios and permitting · Figure 8; PDF p. 37
Keep in mind: Metros differ in geography, amenities, and demand; this cross-section is evidence of a pattern, not a causal effect.

Too many people are chasing too few homes. See why—and what communities can do about it.