Land use regulations driving up home prices in Greater Boston.
The study looked at why home prices are rising and new homes are not being built in eastern Massachusetts. They found that strict land-use regulations in Greater Boston are making it harder to build new homes. These rules, like minimum lot sizes, are linked to less construction. When controlling for population and density, these regulations don't seem to raise home prices. This suggests that the current density in the area is too low to make the most of the land.