Should We Deregulate Housing? | Bryan Caplan | Escaped Sapiens #69

Housing regulation is often put in place for good reasons, namely comfort, safety, environmental protection, availability of utilities and services, and more. With each additional regulation, however, restrictions are being placed on what you can build, where you can build, and how quickly you can build it. Professor Bryan Caplan argues that our current mess of regulations dramatically increases the price of housing, by limiting supply. This, he argues, has disastrous effects on fertility, and many social issues that we care about today, including social mobility and financial inequalities. Bryan argues further that inappropriate zoning and regulation creates widespread environmental damage through urban sprawl, congestion, and by limiting the number of people who are able to live in environmentally less damaging areas of the country (e.g. where heating and air condition is not required throughout the year, or where water is not scarce).
Bryan's preference would be to lift many, if not all building regulations. My approach would be somewhat more conservative. We discuss the nuances of the debate in this conversation.
►For more information about Bryan's work:
www.bcaplan.com/
►For Bryans new book: www.cato.org/books/build-baby...
►Follow Bryan on X: @bryan_caplan
These conversations are supported by the Andrea von Braun foundation (www.avbstiftung.de/), as an exploration of the rich, exciting, connected, scientifically literate, and (most importantly) sustainable future of humanity. This interview is one of a series of interviews that explores the impact of economics on sustainability and the environment. The Andrea von Braun Foundation has provided me with full creative freedom with their support. The views expressed in these episodes are my own and those of my guests.
Menu:
0:00 - Bryan Caplan.
1:35 - What is housing deregulation?
3:20 - The price we pay for regulation
5:20 - Single family zoning.
6:40 - Density and congestion?
11:00 - Crumbling infrastructure.
13:05 - Is life more expensive today?
14:30 - Benefits of having children.
22:20 - Social benefits of deregulation.
26:30 - Regulation stifling economic growth.
30:30 - Why not social housing and rent caps?
35:40 - Criticism: Gentrification and holiday homes.
49:05 - Quantitative vs qualitative arguments.
50:26 - Criticism: There is already enough housing.
1:02:30 - Criticism: The problem is really on the demand side.
1:11:55 - Steel manning regulation.
1:23:30 - Regulation and the law.
1:27:25 - Environmental destruction.
1:31:40 - The big complainers.
1:33:35 - Is there a realistic path to deregulation?
1:40:55 - Impact of deregulation.
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[@usernameryan5982]

I understand Bryan's point on mass transit usually being slower than driving just due to the nature of individual vs collective forms of transportation and congestion pricing would help a lot in this regard. The main reason why mass transportation is supported is because of parking (which he addressed) and because it is insanely space efficient compared to individual cars. Mass transit is a million times more conducive for areas being walkable and not polluted by noise or just the danger of being around high speed traffic. Nobody wants to live near a highway or even arterial road (they're loud, dangerous, polluting and a horrible place to be around), there are a lot of people that would die to live next to a NYC subway line. The Shibuya train station in Japan is the most busy passenger train station with 3.5 million daily riders passing through each day. Assuming you put everyone in a car with 1.5 people per car and assuming a lane of traffic has a capacity of 2,000 vehicles per hour, you would need 50 lanes of highway moving 24 hours per day which is absurd and makes the place a living hell to be around whereas the Shibuya station today is a pleasant, walkable area where you can get off with many surrounding areas to conveniently go to by foot.

[@EscapedSapiens]

I feel/think the same way. In addition, my experience in Berlin has actually been that public transport often beats cars. The only real exception is late at night when the roads are empty and the trains are infrequent. Another aspect is that public transport removes congestion from roads (including parking spaces). Furthermore, to make the equation really fair you should be adding in the hours spent at work to afford the car, and the time spent on repairs and refueling. Thanks for watching.

[@roncaldwell699]

The reality of building out housing or dams, bridges etc is that without government regulation at every level it would be cheaper. Yet the downside is significant and not worth the pennies saved.

[@radman1136]

You're discussing the planning for a future that we don't have. Don't you have anything else to do?

[@usernameryan5982]

Shouldn't you be complaining about something on reddit?