And when zoning laws get out of hand, economists say, the damage to the American economy and society can be profound. Jerry Brown of California and President Obama, are joining with developers in trying to get cities to streamline many of the local zoning laws that, they say, make homes more expensive and hold too many newcomers at bay. They have gotten more restrictive over time, contributing to a jump in home prices that has been a bonanza for anyone who bought early in places like Boulder, San Francisco and New York City. In Boulder, for instance, the median home price has risen 60 percent over the last five years, to $648,200. Even if they could, there would not be much point, since whatever they gained in pay would be swallowed up by rent.

Source: New York Times July 04, 2016 01:07 UTC