Forbes: "Saying Housing Drives Income Inequality Misses Some Big Points"
By Erik Sherman
Studies over time have examined connections between income inequality and housing. As Richard Florida, a senior editor at The Atlantic and University Professor and Director of Cities at the University of Toronto’s Martin Prosperity Institute argued, "a mounting body of research suggests that housing inequality may well be the biggest contributor to our economic divides."
Referring to a study by urban economists David Albouy and Mike Zabek, Florida wrote the following:
Ultimately, the study concludes that the rise in both housing wealth and housing inequality stems mainly from the increase in the value of land. In other research, Albouy found that the value of America’s urban land was $25 trillion in 2010, roughly double the nation’s 2016 GDP.