Kelman cites restrictive local zoning as the causal factor here: “These laws, supported on the left and right are fiercely defended by well-meaning neighborhood associations that have sometimes started to act as a cartel to limit housing supply and keep prices high […]”
He goes on, “It’s these laws, not market forces, that prevent builders from replacing parking lots, stripmalls and single-family homes with affordable high density condos and townhouses.”
www.planetizen.com/news/2018/05/98901-redfin-ceo- laments-frustrated-homebuyers-low-inventory <www.planetizen.com/news/2018/05/98901-redfin-ceo-laments-frustrated-homebuyers-low-inventory?platform=hootsuite>