Incentives Series

Tackling misaligned incentives in housing policy

Economists love to say people respond to incentives — and they’re right. We switch to bananas when apples get pricey, and we save more when retirement accounts are tax-advantaged. These are harmless examples. But incentives are misaligned when they push us to act against our values or stated goals. Housing policy is full of these misalignments, and they’re the focus of the UCLA Housing Voice podcast’s Incentives Series.

Local officials may prefer offices or retail because they generate more tax revenue and need fewer services, so homebuilding loses out. Homeowners often fight apartments to protect home values — understandable when home equity is their biggest asset, but at odds with affordability. Planning processes grant many people veto power over housing yet empower no one with the singular authority to approve the homes we need, leading to obstruction, delay, and chronic shortages. Building codes can add costly requirements with little proven safety benefit, while low property taxes can encourage absentee ownership. Even fixed-rate mortgages — which make ownership more affordable and predictable — can also lock homeowners in place and freeze the market for buyers when interest rates rise.

Too often, the gap between what we say we want and what our policies deliver reveals a deep misalignment. This series investigates where these incentives come from, who benefits, and how to realign policy with our priorities: safe, healthy communities; affordable, livable homes; stable households; and broad, equitable opportunity. We’re excited to bring you these lessons and solutions from across the country and throughout the world.

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The Incentives Series began in September 2025 and was produced with the generous financial support of the UCLA Center for Incentive Design. Each episode, including a transcript and links to additional resources, is listed below.

You can also find the series and the entire UCLA Housing Voice podcast on Apple Podcasts, Spotify, and anywhere else podcasts are available.

For questions, feedback, or comments, you can contact Shane Phillips at shanephillips@ucla.edu.

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