Elasticity of Supply: Why Housing is Unaffordable

Transcript

• [Alex] Why is this house selling for more than $2.5 million? Or this apartment, renting for almost $3,000 a month? Is it greed? Conspiracy? No. Just a powerful economic concept, the elasticity of supply. Sounds complex, but it's actually quite simple. In the United States and around the world, many industries and jobs have been concentrating in ... Read More