"In places with relatively few barriers to construction, an increase in housing demand leads to a large number of new units and only a moderate increase in prices...places with more regulation experience a 17% smaller expansion...and almost double the increase in prices."

www.sciencedirect.com/science/arti...

Job creation and housing construction: Constraints on metropolitan area employment growth

Differences in the supply of housing generate substantial variation in house prices across the United States. Because house prices influence migration…

> Me telling anyone who will listen that there’s gonna be a housing demand boom in the Research Triangle for at least the next ten years and our only choice is whether it’ll show up in more people or higher prices

"Rather than estimating this elasticity from fluctuations in house prices and quantities, I use information on the restrictiveness of land use regulation in each location to evaluate the responsiveness of the housing supply in individual metropolitan areas." Isn't this literal question begging

It’s almost as if supply and demand are a real thing in housing!