For Sale: Closet for $335,000

From London, the least-affordable housing market in the world, comes news that a 77-square-foot closet can be yours to live in for just $335,000 (plus an estimated $59,000 to clean it up and add such luxuries as electricity and heat).

Such high prices are the result of green belts and an anti-housing planning process. While this closet is in one of the wealthier parts of London, other recent real estate deals in England include:

Density Increases Congestion

In an earlier post, I mentioned that density increases congestion and was chastised for failing to prove it. So here is the evidence.

Start with data from the 2000 census that compares the percentage of commuters who drive to work with the population density of nearly 400 urbanized areas (areas with more than 50,000 people). If density reduced congestion, then increased densities would greatly reduce auto commuting.

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