Despite the fact that the topic is complex, one must at least start with the fact that housing prices in the high multiple bracket, and elsewhere, are actually stationary or decreasing, it is LAND prices that have escalated in SOME City locations.

Add to this that the OLD " limits to growth" were resources and especially energy, while in the information age we have no idea what the new limits will be but we certainly are nowhere near them, it becomes fairly obvious that exploitation of the new wealth is pretty easy unless Government intervenes BECAUSE

If you work in IT or the financial sector, for example, you want your children to go to a good school, and you want to be close to the financial heart for work, and you also have a large income but not much free time. That means you are very easy to exploit unless Government see the issue as a national security issue in which housing land will be reserved for a particular group of workers that the nation needs to attract.

Furthermore, the idea that housing construction is a major employer, while urban public squalor is not, also requires government intervention. Without the building of schools, recreation areas and civic buildings, as well as VARIETY of work, new city areas can not be built.

So housing supply is not really a problem, but new city supply is.

