""They're sitting on two million empty lots," he wrote. "I'm asking Fannie Mae and Freddie Mac to get Big Homebuilders going and, by so doing, help restore the American Dream.""
""It's bizarre to compare homebuilders to OPEC," Caplan told Fortune. "OPEC is a tiny cartel of countries that openly coordinate""
President Donald Trump compared large homebuilders to OPEC and accused them of sitting on two million empty lots, urging Fannie Mae and Freddie Mac to spur construction to restore the American Dream. The comparison echoed elements of the YIMBY movement, which advocates loosening housing restrictions to increase supply and has been popularized by proponents of abundance. Economist Bryan Caplan, a libertarian YIMBY supporter, rejects the greed-based diagnosis and identifies restrictive zoning and local opposition as primary drivers of the housing shortage. Caplan called the OPEC comparison inaccurate and emphasized deregulatory approaches as the solution.
Read at Fortune
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