The economic cost of NIMBYism

Housing, affordable and otherwise, is a problem in the nation's most vibrant cities, stifling both economic growth and diversification. Part of that reason is protectionist policies of NIMBY's, who aren't keen to share their neighborhood communities (but very happy to benefit from the sky-high property values that accompany growth).

Excerpt:

Protectionist housing policies are bad for people who’d like to work in Silicon Valley, of course. But NIMBYism is also bad for the nation as a whole. Even though labor productivity has grown the most over the last few decades in three specific U.S. cities—New York, San Francisco, and San Jose—that local growth hasn’t translated to greater national growth at all, thanks to a lack of housing.

Read the rest here.