The Geography of Housing Affordability

A national crisis, or a big city crisis?

Portuguese Fish

I’ve just returned from Portugal. On the west coast of the country, where we were celebrating a wedding, you can get a spectacular 5-course fish dinner for under $20.

That’s because, in Portugal, productivity—and incomes—are very low. Sure, supply might play a part: fish are abundant off the Portuguese coast. But fish are also abundant of…