Housing policy lessons from the microchip shortage

Curtailing supply is bad; rising used car prices are not a wealth-building strategy. In this instalment of Slow Boring, Matthew Yglesias reveals what can be learnt about the housing market by looking at the car supply crunch — primarily because there is so much consensus about cars. Here, he explores why many housing assertions are clearly false when looking at cars, why scarcity is a terrible wealth-building strategy and why abundance is good.