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This mandates housing developers using land bought at a discount from the city to make at least 10 percent of their housing units "affordable", or to contribute money to an affordable-housing fund by increasing the percentage to 15 percent.
Flexible mortgages allowed consumers to tap some of their housing wealth.
Councils will be expected to publish audits of the value and size of their housing assets.
Chicago, Newark, and Philadelphia, among other cities, have since demolished some of their housing projects.
Associations, meanwhile, have held on to much of their housing stock.
Some residents can be at a difficult place in their lives; others may have unrealistic expectations of their housing provider.
The easiest way to compensate councils would be to write off at least some of their housing debt.
"There's a lot of displacement going on, mostly because people have been priced out of their housing as part of the tech boom.
Students are typically driven to school, waved through a security gate, collected after class, and then driven back to the safety of their housing cluster.
At the peak of their housing booms, up to a fifth of their workers had jobs related to construction or property sales.
And as Mr Barro points out, homeowners have a strong incentive to restrict new building to protect the value of their housing asset.Income growth should provide another check.
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