This map shows the hidden reason for America's new housing crisis

There's a new problem in America's housing market.
As we've mentioned before, supply is unable to keep up with the demand for homes, and that's causing prices to soar and keeping many buyers out of the market.
The simple question follows: Why aren't homebuilders building fast enough to keep up with this demand?
One answer was highlighted by John Lovallo II at Bank of America Merrill Lynch: land regulations.
Not only is the cost of land increasing at a rapid pace, but the land-entitlement process