Supply constraints dictating the shape of America's growth
In expensive coastal cities, slow outward expansion and gradual development have depleted the supply of vacant lots.
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GETTING new housing built in San Francisco is a famously difficult endeavour.
The city is hemmed in by water on three sides, ran out of greenfield tracts to build on in the 1950s, and is full of people who think their city is perfect as it is and doesn't need to get any bigger - especially not if the newcomers are (horrors!) tech workers.
Still, the city added 5,114 net new housing units in 2016, which appears to be the most net new units added in a year since the 1940s. Another 4,087 units were permitted for construction last year.
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