How the US made affordable homes illegal

The rules that keep American housing expensive. Subscribe and turn on notifications (🔔) so you don’t miss any videos: Over the past year, housing prices in the US rose precipitously. Low interest rates and millennials’ entry into the market spiked demand across the nation, leading housing prices in some cities to increase by more than 20 percent in one year, and crushing the dreams of many would-be homeowners. But housing prices in the US were a problem long before 2020 — and while demand is a big part of the story, there’s an even bigger reason it’s increasingly difficult for Americans to find affordable housing: We don’t have enough houses. According to one estimate, the US is now facing a nearly four-million-home shortage. And the primary reason for that shortage is what’s called exclusionary zoning. Zoning laws are the local rules and regulations that decide what types of homes can be built where. These rules can sometimes have good intentions.