Listen to or read the following Planet Money Podcast - "Yes in My Back Yard."

Answer the following questions (1 short paragraph per question):

1. What is the cause of the housing shortage in the Bay Area and what are the real impacts as measured by Enrico Moretti? 2. How can the housing problem be solved as explained by Sonja Trauss? (Use economic reasoning from the podcast and see alternatives to rent control from lecture) 3. Why is more housing development perceived as bad for current homeowners, particularly in wealthy areas? What do they stand to gain by preventing new development?