How large is the housing crisis, and why does it impose trillions of dollars in economic costs? Why has housing become especially unaffordable across English speaking countries and an expanding number of American cities? What does the gap between the cost of building another apartment and the price it can command reveal about housing scarcity? How do local restrictions turn neighborhood opposition into a metropolitan housing shortage? Are NIMBY homeowners rationally defending their interests, or misunderstanding how land values and redevelopment options work? Why might renters and homeowners oppose construction even when their economic incentives diverge? What benefits do density and growth create for businesses, culture, infrastructure, and urban life? How quickly does new supply lower prices when better cities attract more people? Do institutional investors drive housing costs, or mostly arbitrage between ownership and rental markets? How can even luxury construction set off chains of moves that create cheaper housing elsewhere?

Alex Armlovich is the Housing Program Officer at Coefficient Giving. Previously, Alex was a Senior Housing Policy Analyst at the Niskanen Center, where he advocated for pro-housing reforms to address scarcity and improve affordability. His writing and research on urban economics and policy has been widely cited. Alex holds a Master in Public Policy from the Harvard Kennedy School and a B.A. from the University of Rochester.

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