Nice paper and a theme of SI Urban so far: people don't like density, will pay to get away from it. Graph shows home price changes as you cross the line into a neighborhood with a higher minimum lot size. 1/

Is willingness to pay for density just preference over demographics (race), income of neighbors, school quality? A little bit? I'm not sure how to interpret this since all the mediators are correlated, and if you control for enough things you have to get to zero.