But you agree it certainly must contribute to the problem?

> you agree it certainly must contribute to the problem?

As a multi-decade effect? No, not really. Absent migration I don’t think home prices would be flat in Europe.

In some cases, in the short term? Sure. But to answer to what extent is it a distraction versus actual driver of home unaffordability, you need numbers. The article provides compelling evidence for zoning. Given the animus against immigrants in Europe, I’d guess I’m assuming if these data existed they’d already have been found.