Serious about tackling inflation? Then address soaring housing costs

Source: Jim Parrott & Mark Zandi, Washington Post (Paid Registration)

Home builders have been unable to keep up with demand for well over a decade, held back by restrictive zoning requirements, high permitting costs and often an inability to get affordable financing to buy land and build homes. The pandemic has made matters worse, with acute shortages of materials and labor, but the problems from before the pandemic show no signs of fading with the effects of the virus.

If policymakers are serious about reining in inflation, then, they have little choice but to take on the shortfall in housing supply.

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