The national real estate firm Coldwell Banker reports that, in 2007, a Houston family could buy a four-bedroom, two-and-one-half bath, 2,200-square foot home for $170,000. The same house would cost more than twice that much in Portland and more than eight times as much in San Jose.
Such huge variations in the cost of housing from city to city did not exist 50 years ago. Today, they are mainly due to artificial housing shortages created by heavy regulations and land-use planning.
Monday, January 21, 2008
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