In Economic Facts and Fallacies (2011), Thomas Sowell argues that housing regulation and zoning laws, not markets, are to blame for the modern scourge of unaffordable housing. Sowell is still right. Government housing regulations have exacerbated construction costs, reduced the elasticity of the housing supply, and worsened the vicious problem of homelessness. A 2014 NBER (National Bureau of Economi Research) review of the current housing regulation literature confirmed what economists already knew: "regulation appears to raise house prices, reduce construction, reduce the elasticity of the...