Studies Question Effectiveness of 'Abundance Agenda' Housing Policies

New research from Federal Reserve and Georgetown Law casts doubt on claims that deregulation and increased housing supply will solve affordability crisis

Published on Feb. 13, 2026

Got story updates? Submit your updates here. ›

Two recent studies have challenged the premise that increasing housing supply through deregulation and market-rate development will make homes more affordable. The Federal Reserve Bank of San Francisco found that housing supply growth is more closely tied to population growth than income growth, suggesting that economic inequality is a bigger driver of the affordability crisis than 'constraints' on development. Similarly, a Georgetown Law report on high-growth metro areas found that new construction has skewed towards larger, more expensive units, leaving fewer options for lower-income families.

Why it matters

The findings of these studies undermine the 'Abundance Agenda' housing policies pushed by California lawmakers like Sen. Scott Wiener and Gov. Gavin Newsom, which aim to spur more market-rate development by limiting local control and zoning restrictions. If the research is accurate, these policies may do little to actually improve affordability and could exacerbate inequality by favoring higher-income households.

The details

The Federal Reserve paper directly contradicts the premise that eliminating 'constraints' on development will provide more 'family housing.' Instead, it found that housing supply growth is strongly correlated with population growth, not income growth. Meanwhile, the Georgetown Law report examined six high-growth metro areas and found that new construction has skewed towards larger, more expensive units, potentially leaving fewer options for lower-income households even as overall supply increases.

  • The Federal Reserve paper was published in February 2026.
  • The Georgetown Law report was also released in early 2026.

The players

Federal Reserve Bank of San Francisco

A regional Federal Reserve bank that conducts economic research.

Georgetown Law School's Center on Poverty and Inequality

A research center at Georgetown University Law School that studies issues related to poverty and inequality.

Scott Wiener

A California state senator who has pushed housing deregulation policies as part of the 'Abundance Agenda.'

Gavin Newsom

The governor of California who has supported the 'Abundance Agenda' housing policies.

Daniel Lurie

The mayor of San Francisco who has backed the 'Abundance Agenda' and a 'Rich Family Housing Plan.'

Got photos? Submit your photos here. ›

What’s next

The findings of these studies are likely to fuel further debate over the effectiveness of the 'Abundance Agenda' housing policies, and could prompt lawmakers to reconsider their approach to addressing the affordability crisis.

The takeaway

These studies suggest that simply increasing housing supply through market-rate development may not be enough to solve the affordability crisis, and that policymakers should consider a broader range of interventions, including measures to address economic inequality, if they want to make housing more accessible for lower-income families.