Ben Keyes

And then the third is related to zoning and land use restrictions and other policies that create a lot of hoops to jump through and make it challenging for developers who would like to build, you know, build at the scale where they would like to build.

And so each of those three factors, financing, construction, and zoning are all putting downward pressure on the ability to create more houses and more housing units where people would like to live.

And so each of those three factors, financing, construction, and zoning are all putting downward pressure on the ability to create more houses and more housing units where people would like to live.

And so each of those three factors, financing, construction, and zoning are all putting downward pressure on the ability to create more houses and more housing units where people would like to live.

Yeah, well, I think this ties back to one of the fundamental misunderstandings of how tariffs work. But basically, if we're going to raise the costs of construction materials, that's going to raise the cost of building a home. Now, a lot of the materials that are used for construction are domestic.

Yeah, well, I think this ties back to one of the fundamental misunderstandings of how tariffs work. But basically, if we're going to raise the costs of construction materials, that's going to raise the cost of building a home. Now, a lot of the materials that are used for construction are domestic.

Yeah, well, I think this ties back to one of the fundamental misunderstandings of how tariffs work. But basically, if we're going to raise the costs of construction materials, that's going to raise the cost of building a home. Now, a lot of the materials that are used for construction are domestic.

So we do have a lot of those in the U.S., but we also import a number of construction materials like lumber for things that would be covered under NAFTA from Canada. But the simple math is that if we are going to impose additional tariffs on building materials, it's going to be more expensive to build rather than less expensive to build.

So we do have a lot of those in the U.S., but we also import a number of construction materials like lumber for things that would be covered under NAFTA from Canada. But the simple math is that if we are going to impose additional tariffs on building materials, it's going to be more expensive to build rather than less expensive to build.

So we do have a lot of those in the U.S., but we also import a number of construction materials like lumber for things that would be covered under NAFTA from Canada. But the simple math is that if we are going to impose additional tariffs on building materials, it's going to be more expensive to build rather than less expensive to build.

So that's going to only make the affordability problem worse.

So that's going to only make the affordability problem worse.

So that's going to only make the affordability problem worse.

Well, first, I think the impact of a policy like that would have impacts that are so devastating to many communities in the country that the effects on housing affordability feels second order or even third order. But I don't think that there is a strong connection between this idea of removing immigrants from our country and making housing more affordable.

Well, first, I think the impact of a policy like that would have impacts that are so devastating to many communities in the country that the effects on housing affordability feels second order or even third order. But I don't think that there is a strong connection between this idea of removing immigrants from our country and making housing more affordable.

Well, first, I think the impact of a policy like that would have impacts that are so devastating to many communities in the country that the effects on housing affordability feels second order or even third order. But I don't think that there is a strong connection between this idea of removing immigrants from our country and making housing more affordable.

And there's a couple of reasons for this. One is... that immigrants and undocumented immigrants make up a large fraction of the construction workforce. So it's been estimated by Pew that 14% of the construction workforce are undocumented immigrants. And so it is going to make labor costs more expensive to build, and that's going to drive up the cost of housing.

And there's a couple of reasons for this. One is... that immigrants and undocumented immigrants make up a large fraction of the construction workforce. So it's been estimated by Pew that 14% of the construction workforce are undocumented immigrants. And so it is going to make labor costs more expensive to build, and that's going to drive up the cost of housing.

And there's a couple of reasons for this. One is... that immigrants and undocumented immigrants make up a large fraction of the construction workforce. So it's been estimated by Pew that 14% of the construction workforce are undocumented immigrants. And so it is going to make labor costs more expensive to build, and that's going to drive up the cost of housing.

The trade-off there from a housing market standpoint, we're talking about this in a very narrow sense, is that there will be fewer people in this sort of numbers game of supply and demand. But if we think about the types of housing that immigrants and undocumented immigrants tend to locate in, they tend to be renters and they tend to locate in low-income neighborhoods.