Editorial: The New York Times

• The median home price in the United States has grown considerably compared to the median household income.
• Limited construction in coastal areas has led to a significant increase in the price-income ratio.
• In contrast, cities like Austin have built more homes and kept a lower price-income ratio.
• The high price of housing is damaging the economy and social fabric of the country, increasing generational inequality and limiting upward mobility.
• Pricey areas have passed restrictive housing construction policies and favored existing homeowners at the expense of the rest of the population.
• Basic economic principles suggest that the solution lies in increasing supply, as in the case of Austin.
• To bring down housing costs, zoning laws should be loosened and the permit obtaining process made easier.

Conclusion: The high frustration around the cost of housing can be eased through an alternative approach to the housing situation like the one applied in Austin, building more homes.

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