By Ronald D. Utt & Wendell Cox
Despite the lack of evidence that more intensive land-use regulations can reduce GHG, enthusiasm for population-densification measures runs high among White House officials and congressional leaders. But in clinging to the slim hope that their "smart growth" schemes will somehow work, they ignore the lessons of the housing-market collapse and risk making it worse.
Demographia, for one, has published several studies indicating that smart growth and New Urbanist housing policies would disrupt the already wobbly housing market, make housing less affordable, reduce housing quality and substantially limit consumer choice.
For more than a decade, numerous independent sources have studied the influence of land-use regulations on housing affordability. One of the better summaries of these findings was written in 2005 by Paul Krugman — Nobel laureate in economics and columnist for the New York Times — just as the housing price bubble was about to burst: