Source: Independent Institute
by Christopher J Calton
“With the median sale price of a single-family home exceeding $400,000 since the pandemic, federal politicians have been champing at the bit to show voters they are working to lower housing costs. The recently passed bipartisan 21st Century ROAD to Housing Act is Congress’s attempt to expand the housing supply. It awaits the president’s signature. The problem is that there is little the federal government can do to solve a crisis that is primarily the byproduct of local regulations. The local nature of the housing shortage is apparent when comparing housing costs in San Francisco, where the median single-family home price has reached a staggering $2 million, and Houston, where the median home sells for only $371,000.” (06/30/26)