Smart growth advocates claim that it improves the quality of life. What they don't mention is that growth restrictions are expensive in the long run and reduce housing affordability.
"Our research illustrates that prices rise significantly faster in some cities than in others, and that these local differences in rates of housing appreciation are positively related to restricted local developmental regulations.Using our model, we developed an index of local development policies. San Francisco, Los Angeles-Long Beach, San Jose, Honolulu and Santa Cruz-Watsonville are the most restrictive. The least restrictive are Melbourne-Titusville-Palm Bay, (Fla.), Daytona Beach, West Palm Beach-Boca Raton, Orlando and Las Vegas."
Thanks to Abhijeet Chavan
FULL STORY: 'Smart growth' cuts back affordable housing
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