Rethinking Housing Affordability with Dr. Emily Hamilton | Let People Prosper Show Ep. 151🎙️

How misguided government policy make housing more expensive—and what we can do about it

Hello Friends!

Why is housing so expensive in many cities—and is the government making it worse?

In this episode of the Let People Prosper Show, I interview Dr. Emily Hamilton, senior research fellow and director of the Urbanity Project at the Mercatus Center. We explore the big questions in housing policy: What drives rising costs? How do land-use regulations distort supply? And what reforms would make it easier for families to afford homes?

Dr. Hamilton is a leading voice on urban economics and has worked extensively to evaluate how government decisions—particularly at the local level—restrict housing development and make affordability harder to reach for many Americans. We break down the challenges of the modern housing market through a free-market lens, offering real solutions that expand opportunity, protect property rights, and let people prosper.

👉 Subscribe on Apple Podcasts, Spotify, or YouTube, and visit VanceGinn.com for more policy insights.

---

🎯 Key Takeaways

1. Housing Affordability Isn’t Just a Price Problem
   Emily explains that we must look beyond rent and mortgage numbers to understand the broader restrictions—especially zoning laws and land-use rules—that limit supply and drive up prices. These rules are often rooted in status quo bias and anti-growth politics.

2. Local Zoning, Big Impact
   Most zoning decisions are made at the local level, but their consequences ripple nationally. These regulations lock out affordable housing options and reduce mobility, from parking minimums to bans on duplexes and height limits.

3. Institutional Investors Aren’t the Villain
   The growing role of institutional investors in housing has sparked criticism, but banning them would reduce supply even further. The real problem is that too little housing is being built, and not who’s buying it.

4. Property Taxes and Housing Distortions
   Local tax policies often reward some homeowners and punish others. Emily shares how tax structures can create “winners and losers” in the housing market and suggests reforms that better align incentives.

5. State Preemption Can Advance Property Rights
   While local control is important, state governments can play a vital role in defending property rights when localities overreach. We discuss examples of successful pro-housing reforms that have come from state legislatures.

6. What Policymakers—and Citizens—Can Do
   From YIMBY (Yes In My Backyard) movements to better permitting processes, Emily offers a hopeful view of how housing policy is gaining momentum nationwide. Change starts with awareness and a willingness to question the status quo.

---

Sound Bites:

• “The American dream needs to be adaptable to individuals’ desires.”

• “The land use regulations in place prevent some of those trade-offs.”

• “It’s important to ask: what’s the alternative?”

• “There’s a huge status quo bias in this area.”

---

Chapters:

00:00 – Introduction to Housing Policy and Urban Economics
08:41 – Understanding Land Use Regulations
17:49 – The Role of Government in Housing
26:49 – The Impact of Institutional Investors
35:22 – Current Challenges in the Housing Market
39:30 – Future Outlook for Housing

---

🔚 Final Thoughts

Housing affordability isn’t just about prices—it's about freedom. When governments distort housing markets with heavy-handed zoning and misguided regulation, they limit opportunity for individuals and families. The free-market alternative is clear: reduce barriers, encourage building, and let people prosper.

📢 Help spread the message: Subscribe and share the Let People Prosper Show. For more timely insights, visit my website at vanceginn.com and follow me on X.