Rights-violating nationwide and local building codes slow down innovation, prolong the time of construction, and increase building costs. Local zoning laws and “anti-growth,” “anti-sprawl,” and “not in my back yard” (NIMBY) regulations limit what and where developers and builders can build. Taken together, these restrictions reduce the supply of new housing as builders have a harder time finding profitable prospects. The resulting lower supply of new construction drives up prices on existing homes and apartments. And in markets with rent control, the supply is even more constrained, because the cap on rents makes new construction even less profitable, and existing rental properties often do not generate enough revenues to cover needed maintenance.
Think Right or Wrong, Not Left or Right 