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Land-Use Regulations: A View from the Fifth District
Land and housing can be costly in a city or region for a number of possible reasons. Places with recreational or cultural attractions or other amenities draw population so the demand for housing and, consequently, land is high in those areas. Prices could also be high at some locations if the supply of land is constrained by the geography. In some areas, however, the price of land is high as the result of heavy land-use regulations (LURs), which restrict the availability of houses.