Opinion: Even Federal Reserve Chairman Jerome Powell is missing the real problems with America's housing market
Recently, Federal Reserve Chairman Jerome Powell was asked about the rising costs of housing. Powell pointed to increased labor and material costs as the driver of home-price increases. But that ignores the real issues causing cost increases: zoning and local regulation. Tobias Peter is a senior research analyst at the American Enterprise Institute's Housing Center. Edward J. Pinto is a resident fellow and the director of the Housing Center at the American Enterprise Institute.
Recently, Federal Reserve Chairman Jerome Powell was asked about the rising costs of housing. Powell pointed to increased labor and material costs as the driver of home-price increases. But that ignores the real issues causing cost increases: zoning and local regulation. Tobias Peter is a senior research analyst at the American Enterprise Institute's Housing Center. Edward J. Pinto is a resident fellow and the director of the Housing Center at the American Enterprise Institute.
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