By 2009, the depths of the last reces­sion, building per­mits had fallen to fewer than 8,000, and in 2012, three years after the reces­sion, building per­mits issued for housing units were still less than half the number of 2005. Mean­while, the state’s pop­u­la­tion grew by more than 400,000, according to the census.

There’s simply no ques­tion that we’re not building enough housing units to meet demand,” said Barry Blue­stone, an econ­o­mist and director of the Dukakis Center for Urban and Regional Policy at North­eastern University.

The expected con­se­quences can be lifted right out of the most basic Eco­nomics 101 text­book: Supply short­ages lead to rising prices.

Read the article at The Boston Globe →