Just Pay the NIMBYs

Just about every effort to solve America’s housing shortage runs into the iron law of NIMBY: “not in my backyard.” Whenever a development is proposed in a place where people already live, existing residents erupt in opposition, claiming the new homes will alter “neighborhood character,” increase traffic, and hurt property values. Those who would benefit the most from new housing, meanwhile, don’t yet live in the community and thus have no say in the political process. This creates an asymmetry…