Profiling the "Abundance" housing bottleneck with real data

# Summary The article examines whether the "Abundance" concept—that regulatory bottlenecks rather than lack of inputs constrain housing supply—holds up against real data. While Austin's 18 permits per 1,000 residents versus San Francisco's 2 supports the theory of regulatory constraints on throughput, the author's modeling reveals the relationship is more complex: extrapolating small experiments to decade-long timescales fails, and demand shocks (like AI hiring booms) can overwhelm supply improvements, meaning supply alone cannot explain price movements.