Les Andrews

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The predictable effect of restricting the building of housing, as the population was growing, was a rise in housing prices, when the supply of housing was not allowed to rise as the demand rose. California home prices were very similar to those in the rest of the country before this wave of building restrictions swept across the coastal regions of the state in the 1970s. But, afterwards, home prices in coastal California rose to become some multiple of home prices in the country as a whole.
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Discrimination and Dis...
 
by
Thomas Sowell
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