Not only did this help to slow down skyrocketing housing costs, it inspired a bipartisan, nationwide expansion of the policy.
Home prices in Auckland, New Zealand's biggest city, doubled between 2009 and 2016 and prices across the rest of the country followed close behind.
"A typical New Zealand city looks a lot like a typical US city," Gray said.
There are three models of housing construction in US cities right now, Gray said.
"In terms of an overall objective, I think bringing down house prices to construction costs is an ultimate sign of housing abundance."
Persons:
Upzoning, Jenny Schuetz, Matthew Maltman, who's, Ryan Greenaway, Guo Lei, Maltman, There's, Auckland's upzoning, Vicki Been, Bill de Blasio, Schuetz, Nolan Gray, Gray, let's, Brett Coomer, that's, Allison Zaucha, Freemark, we're, Emily Hamilton, Eliza Relman
Organizations:
Brookings Institute, Auckland, Economic, University of Auckland, New, National Party, Housing, Economic Development, New Zealand, California YIMBY, Urban Institute, Houston, Montana Republicans, George Mason University
Locations:
New Zealand, Auckland, Australian, Zealand, Auckland , New, New Zealand's, New York, Europe, California, Zealanders, San Francisco, Los Angeles, Phoenix, Houston, Atlanta, Denver, Seattle, Washington, Portland , Oregon, Montana, California . Utah, Minneapolis, New York City