‘Folk Economics’ Is Making Housing Too Expensive: Erika D. Smith

Democrats believe that by talking incessantly about affordability, they can deliver a knockout blow to Republicans in next year’s midterm elections.

Such was certainly the advice of a policy paper released this week by the left-leaning Center for American Progress. In it, the authors zeroed in on housing, urging elected officials and candidates to prioritize the construction of new homes as a way to lower prices for rent and mortgages, and bring voters back into the Democratic Party fold.

“After years of underbuilding,” they wrote, “we’ll need sustained, above-average production to bring supply back in line with demand and ease ...