Read entire series here.
Because zoning laws have set minimum lot sizes within a jurisdiction, not only is a minimum wealth threshold set for living there, the number of lots available in that community is fixed. Land owners do not have the freedom to subdivide into lots small enough to accommodate market needs. Instead, the number of lots available is limited by law. An artificially low supply of lots is maintained, and with no decrease in demand, land costs are artificially higher than they would be with a free market. This further hinders the poor (or middle class) from being able to live in a desirable community.
Part 6 . . . . . . . . Part 8
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