"We've been blaming America's 'new housing crisis' on the wrong thing all along"
They think the culprit is zoning, but . . .
More after the break.
"A Trulia study published on Tuesday found that while zoning laws are a real burden for homebuilders, the bigger culprit is local government bureaucracy, measured by building-approval delays."
I would disagree. The biggest problem are the growth boundary, or service boundary laws which strictly limit the ability of the local jurisdiction to allow any development on vast swaths of land.
Once the land within the boundary is mostly developed, land prices skyrocket. So, here in Portlandia, Oregon we have absurdly high housing costs, even though only 3.5 % of the land in the state is developed. Yes, our zoning laws, and building-approval delays make it worst, but it is the scarcity of land which drives the base price.
This is the same problem we find in the San Francisco - San Jose area. A place where one can frequently find a $1.2 million home where the home itself is worth only perhaps $150,000 but the land is worth over a million, all 0.20 acres of it!
The San Francisco area toys with utterly destroying its housing market