The most effective way to lower housing prices is to increase supply. Instead of artificially freezing rents, which discourages investment, policymakers should remove regulations that make building new units difficult. More construction creates more competition, which naturally drives down prices for everyone.

Bill Gurley bases his policy institute on a Milton Friedman quote: judge policies by results, not intentions. Many politicians are elected on appealing promises, but their policies fail to deliver. The focus should be on what empirically works, like Austin's zoning policies that lowered rent, rather than on political narratives.

Effective US industrial policy should foster competition among states rather than imposing top-down federal plans. By offering federal loans with equity kickers to states that opt-in to host critical industries like mining or chip fabs, the government can incentivize reshoring while allowing for a market-driven, locally-supported approach.

The difference in home price trends between US regions is not about weather or jobs, but housing supply. States in the South and West that permit widespread new construction are seeing prices fall, while "Not In My Backyard" (NIMBY) states in the Northeast and Midwest face shortages and rising prices.

Major societal shifts, like universal childcare, don't start with national legislation. They begin when communities model a different way of operating. By creating local support systems and demonstrating their effectiveness, citizens provide a blueprint that can be scaled into state and national policy.

Bradley Tusk, known for his work with Uber, advises startups to focus their regulatory efforts on state and local governments. He argues that achieving federal-level change is akin to a miracle. In contrast, states offer 50 different opportunities to pass favorable legislation, establish precedent, and build momentum for broader change.

Local city governments are often captured by "Not In My Backyard" (NIMBY) homeowners who block essential development. A practical solution is to elevate planning and zoning authority to the state level. States, motivated by tax revenues and broader growth, are inherently more development-friendly.

Because federal reform is so difficult, states provide crucial testing grounds for new ideas like civil service reform. Successful state-level experiments create proven models and competitive pressure, demonstrating what's possible and encouraging adoption by other states and the federal government.

Despite massive population growth, Austin has seen rents and housing prices decrease for three consecutive years. This is a direct result of a pro-development stance that allows supply to meet demand, a model Democratic-run cities often resist.