The combination of lack of fiscal incentives and development control has created a vicious circle leading to an unprecedented housing shortage and severe housing affordability crisis. To provide an order of magnitude of the effects of the development control system on housing markets, Hilber and Vermeulen (2016) estimate that housing prices would have increased 100% less between 1974 and 2008 in the absence of any regulatory constraints. These requirements usually consist in attributing land use type (residential, commercial, industrial, or mixed) to plots of land zoned for new construction and in defining the development intensity (in the form, for example, of floor to area ratios).