The Causes and Consequences of Land Use Regulation: Evidence from Greater Boston

Edward Ludwig Glaeser () and Bryce A. Ward

No 12601, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Over the past 30 years, eastern Massachusetts has seen a remarkable combination of rising home prices and declining supply of new homes. The reductions in new supply don't appear to reflect a real lack of land, but instead reflect a response to man-made restrictions on development. In this paper, we examine the land-use regulations in greater Boston. There has been a large increase in the number of new regulations, which differ widely over space. Few variables, other than historical density and abundant recreational water, reliably predict these regulations. High lot sizes and other regulations are associated with less construction. The regulations boost prices by decreasing density, but density levels seem far too low to maximize total land value.

JEL-codes: R14 R21 R31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-geo, nep-reg and nep-ure
Date: 2006-10
Note: EFG PE
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