Ep 05: Market-Rate Development and Neighborhood Rents with Evan Mast

We’ve known for many years that building more homes helps keep prices in check at the regional or metro area level, but what about the house down the street? When a new apartment building goes up nearby, does the “supply effect” of more homes lower rents, or does the “demand effect” send a signal to nearby property owners and potential residents that causes rents to go up? Evan Mast of the Upjohn Institute joins Mike and Shane to discuss two recent papers he’s worked on that help shed light on this important and controversial question.