The Affordability Engine
Artificial scarcity, driven by exclusionary zoning has caused home prices and rents to skyrocket. The obvious economic cure is to create more supply. But people intuitively reject this solution because new construction is expensive and often marketed as luxury. How can expensive new housing possibly drive affordability?
This explainer walks you through how new supply creates affordable housing in two very distinct ways, and shows how this affordability engine has stalled here in Oak Park