Using a simple two-sector life cycle economy with housing services and bequests, we show that a rising labor efficiency in the general economy relative to the construction sector can go a long way toward explaining a significant fraction of the rising trends in wealth-to-income ratios, housing...

Many communities across the nation still lack affordable housing. And many officials continue to claim that "affordable housing" is an oxymoron. Buildinginexpensively is impossible, they say, because there are too many regulations. Required environmental impact statements and habitat protection...