Economists identify an unseen force holding back affordable housing When the smoke cleared after the Great Recession, the home builders who survived were in a surprisingly strong position. They had fewer competitors and more power in their local markets. They have since built on that advantage, consolidating until many markets are controlled by just a few builders. Their power has exacerbated the country’s affordable-housing crisis, some economists say. U.S. housing debates rarely involve the “O” word. But oligopolies, a cousin of monopolies in which a few powerful players corner the market, are emerging everywhere. From 2006 to 2015, the number of builders who controlled 90 percent of a typical market […]

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