Kevin Erdmann
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Senior Affiliated Scholar
Kevin Erdmann is a senior affiliated scholar at the Mercatus Center at George Mason University. He is currently engaged in two book projects with Mercatus on housing finance, land use restrictions, and monetary policy. His first book, Shut Out (Rowman & Littlefield, 2019), offers a contrarian theory on the causes of the housing boom and bust. Reviews of Shut Out have appeared in the Economic Record, Regulation, and the Washington Examiner.
Erdmann’s work has appeared in the Wall Street Journal, the National Review, and Politico, and it has been featured on C-SPAN. Erdmann also blogs at Idiosyncratic Whisk, where he published many of his original discoveries about the housing boom and the financial crisis as he began to investigate them. Eventually that evidence accumulated to form a comprehensive new paradigm through which to view the economy and financial markets, and Erdmann now develops and communicates the lessons of this new framework for policymakers, investors, and firms.
Erdmann was a small business owner for 17 years. He holds a master’s degree in finance from the University of Arizona.
Latest Work
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- | Housing Housing
- | Expert Commentary Expert Commentary
Another Nevada Hallucination | Erdmann Housing Tracker
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- | Housing Housing
- | Expert Commentary Expert Commentary
A Reality Check on Relative Home Prices | Erdmann Housing Tracker
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- | Housing Housing
- | Expert Commentary Expert Commentary
The Housing Crisis Is Making Young Americans Poorer | Investing.com
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- | Housing Housing
- | Expert Commentary Expert Commentary
The housing crisis is making young Americans poorer. | Erdmann Housing Tracker
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- | Housing Housing
- | Expert Commentary Expert Commentary
Apartments in the Midwest | Erdmann Housing Tracker
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- | Housing Housing
- | Expert Commentary Expert Commentary
Housing Rents Show Larger Declines at Low End as Supply Increases | Investing.com
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- | Housing Housing
- | Expert Commentary Expert Commentary
No, builders don't pull back until rents inflate | Erdmann Housing Tracker
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- | Housing Housing
- | Expert Commentary Expert Commentary
Housing Supply Myths Face Reality as Market Dynamics Shift | Investing.com
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- | Housing Housing
- | Expert Commentary Expert Commentary
Hovnanian 1Q 2026 Details | Erdmann Housing Tracker
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- | Housing Housing
- | Expert Commentary Expert Commentary
Housing Shortage Dynamics Signal Long-Term Growth in Rentals | Investing.com
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- | Housing Housing
- | Research Papers Research Papers
"We Are Not as Wealthy as We Thought We Were": Elevated American Household Net Worth Reflects Poverty, Not Wealth
Why rising home prices reflect housing scarcity—and why more homebuilding is the solution -
- | Housing Housing
- | Research Papers Research Papers
Home Price Trends Point to a Worsening Lack of Supply
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- | Housing Housing
- | Research Papers Research Papers
Reassessing the Role of Supply and Demand on Housing Bubble Prices
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- | Housing Housing
- | Research Papers Research Papers
Rising Home Prices Are Mostly from Rising Rents
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- | Housing Housing
- | Research Papers Research Papers
Build More Houses
How an Incorrect Perception of Housing Supply Fueled the Great Recession and Slowed Recovery -
- | Monetary Policy Monetary Policy
- | Research Papers Research Papers
Housing Policy, Monetary Policy, and the Great Recession
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- | Monetary Policy Monetary Policy
- | Books Books
Shut Out
How a Housing Shortage Caused the Great Recession and Crippled Our Economy
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- | Financial Markets Financial Markets
- | Policy Briefs Policy Briefs
A Suggested Mortgage Amortization Structure: Fixed Amortization, Adjustable Principal
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- | Financial Markets Financial Markets
- | Policy Briefs Policy Briefs
Get Cash to More Families That Need It Now: Give Banks More Discretion to Make Home Equity Loans and Refinance Mortgages
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- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Danger in Using Monetary Policy to Address Housing Affordability
A Lesson from the Great Recession -
- | Housing Housing
- | Policy Briefs Policy Briefs
The Link Between Local Zoning Policy and Housing Affordability in America’s Cities
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- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
Housing Was Undersupplied during the Great Housing Bubble
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- | Housing Housing
- | Policy Spotlights Policy Spotlights
Banning Corporate Investors Will Harm, Not Help, Housing Affordability
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- | Housing Housing
- | Radio Appearance Radio Appearance
Kevin Erdman on the Lars Larsen Show | The Lars Larson Show
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- | Housing Housing
- | TV Appearance TV Appearance
Kevin Erdmann on C-SPAN (Washington Journal)
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- | Housing Housing
- | Radio Appearance Radio Appearance
Should the Government Give First-time Homebuyers $25,000? | WBUR Boston
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- | Housing Housing
- | Radio Appearance Radio Appearance
Affordable Housing | KTAR Radio (Arizona)
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- | Housing Housing
- | Radio Appearance Radio Appearance
How a Decline in Home Sales Also Trips up Retail | Marketplace Radio
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- | Housing Housing
- | TV Appearance TV Appearance
Hawaii’s Housing Shortage Explained | ThinkTech Hawaii
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- | Mercatus Podcasts Mercatus Podcasts
A Conversation on Lending Standards and Access to Housing
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- | Housing Housing
- | State Testimonies State Testimonies
Building More Housing Will Help Keep Families in Massachusetts
Massachusetts Joint Committee on Housing, H.1572 & S.962, An Act to Promote Yes In My Backyard -
- | Housing Housing
- | State Testimonies State Testimonies
Accessory Dwelling Units Can Help Unlock Housing Affordability in Colorado
Colorado Senate, Local Government and Housing Committee, HB24-1152 Accessory Dwelling Units -
- | Housing Housing
- | State Testimonies State Testimonies
Accessory Dwelling Units Can Help Unlock Housing Affordability in Colorado
Colorado House Transportation, Housing, and Local Government Committee, HB24-1152, Accessory Dwelling Units -
- | Housing Housing
- | State Testimonies State Testimonies
Regulations Are the Main Cause of Inadequate Housing Supply and Rising Rents in Texas
Texas Senate Committee on Local Government -
- | Housing Housing
- | Public Interest Comments Public Interest Comments
Fewer Restrictions on Lending Can Make Housing More Affordable
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- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Policymakers Should Reevaluate the Premises That Led to an Overhaul of Regulation Z
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- | Monetary Policy Monetary Policy
- | Public Interest Comments Public Interest Comments
Response to the Federal Housing Finance Agency Request for Comment on How Its Regulations May Be Made More Effective and Less Burdensome
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- | Housing Housing
- | Expert Commentary Expert Commentary
Another Nevada Hallucination | Erdmann Housing Tracker
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- | Housing Housing
- | Expert Commentary Expert Commentary
A Reality Check on Relative Home Prices | Erdmann Housing Tracker
-
- | Housing Housing
- | Expert Commentary Expert Commentary
The Housing Crisis Is Making Young Americans Poorer | Investing.com
-
- | Housing Housing
- | Expert Commentary Expert Commentary
The housing crisis is making young Americans poorer. | Erdmann Housing Tracker
-
- | Housing Housing
- | Expert Commentary Expert Commentary
Apartments in the Midwest | Erdmann Housing Tracker
-
- | Housing Housing
- | Expert Commentary Expert Commentary
Housing Rents Show Larger Declines at Low End as Supply Increases | Investing.com
-
- | Housing Housing
- | Expert Commentary Expert Commentary
Housing Supply Myths Face Reality as Market Dynamics Shift | Investing.com
-
- | Housing Housing
- | Expert Commentary Expert Commentary
No, builders don't pull back until rents inflate | Erdmann Housing Tracker
-
- | Housing Housing
- | Expert Commentary Expert Commentary
Hovnanian 1Q 2026 Details | Erdmann Housing Tracker
-
- | Housing Housing
- | Expert Commentary Expert Commentary
Housing Shortage Dynamics Signal Long-Term Growth in Rentals | Investing.com
-
- | Housing Housing
- | Expert Commentary Expert Commentary
Another Nevada Hallucination | Erdmann Housing Tracker
-
- | Housing Housing
- | Expert Commentary Expert Commentary
A Reality Check on Relative Home Prices | Erdmann Housing Tracker
-
- | Housing Housing
- | Expert Commentary Expert Commentary
The Housing Crisis Is Making Young Americans Poorer | Investing.com
-
- | Housing Housing
- | Expert Commentary Expert Commentary
The housing crisis is making young Americans poorer. | Erdmann Housing Tracker
-
- | Housing Housing
- | Expert Commentary Expert Commentary
Apartments in the Midwest | Erdmann Housing Tracker
-
- | Housing Housing
- | Expert Commentary Expert Commentary
Housing Rents Show Larger Declines at Low End as Supply Increases | Investing.com
-
- | Housing Housing
- | Expert Commentary Expert Commentary
No, builders don't pull back until rents inflate | Erdmann Housing Tracker
-
- | Housing Housing
- | Expert Commentary Expert Commentary
Housing Supply Myths Face Reality as Market Dynamics Shift | Investing.com
-
- | Housing Housing
- | Expert Commentary Expert Commentary
Hovnanian 1Q 2026 Details | Erdmann Housing Tracker
-
- | Housing Housing
- | Expert Commentary Expert Commentary
Housing Shortage Dynamics Signal Long-Term Growth in Rentals | Investing.com
-
- | Housing Housing
- | Research Papers Research Papers
"We Are Not as Wealthy as We Thought We Were": Elevated American Household Net Worth Reflects Poverty, Not Wealth
Why rising home prices reflect housing scarcity—and why more homebuilding is the solution -
- | Housing Housing
- | Research Papers Research Papers
Home Price Trends Point to a Worsening Lack of Supply
-
- | Housing Housing
- | Research Papers Research Papers
Reassessing the Role of Supply and Demand on Housing Bubble Prices
-
-
- | Housing Housing
- | Research Papers Research Papers
Rising Home Prices Are Mostly from Rising Rents
-
-
- | Housing Housing
- | Research Papers Research Papers
Build More Houses
How an Incorrect Perception of Housing Supply Fueled the Great Recession and Slowed Recovery -
- | Monetary Policy Monetary Policy
- | Research Papers Research Papers
Housing Policy, Monetary Policy, and the Great Recession
-
- | Monetary Policy Monetary Policy
- | Books Books
Shut Out
How a Housing Shortage Caused the Great Recession and Crippled Our Economy
-
-
- | Financial Markets Financial Markets
- | Policy Briefs Policy Briefs
A Suggested Mortgage Amortization Structure: Fixed Amortization, Adjustable Principal
-
- | Financial Markets Financial Markets
- | Policy Briefs Policy Briefs
Get Cash to More Families That Need It Now: Give Banks More Discretion to Make Home Equity Loans and Refinance Mortgages
-
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Danger in Using Monetary Policy to Address Housing Affordability
A Lesson from the Great Recession -
- | Housing Housing
- | Policy Briefs Policy Briefs
The Link Between Local Zoning Policy and Housing Affordability in America’s Cities
-
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
Housing Was Undersupplied during the Great Housing Bubble
-
- | Housing Housing
- | Policy Spotlights Policy Spotlights
Banning Corporate Investors Will Harm, Not Help, Housing Affordability
-
- | Housing Housing
- | Radio Appearance Radio Appearance
Kevin Erdman on the Lars Larsen Show | The Lars Larson Show
-
- | Housing Housing
- | TV Appearance TV Appearance
Kevin Erdmann on C-SPAN (Washington Journal)
-
-
- | Housing Housing
- | Radio Appearance Radio Appearance
Should the Government Give First-time Homebuyers $25,000? | WBUR Boston
-
- | Housing Housing
- | Radio Appearance Radio Appearance
Affordable Housing | KTAR Radio (Arizona)
-
- | Housing Housing
- | Radio Appearance Radio Appearance
How a Decline in Home Sales Also Trips up Retail | Marketplace Radio
-
- | Housing Housing
- | TV Appearance TV Appearance
Hawaii’s Housing Shortage Explained | ThinkTech Hawaii
-
-
-
- | Mercatus Podcasts Mercatus Podcasts
A Conversation on Lending Standards and Access to Housing
-
- | Housing Housing
- | State Testimonies State Testimonies
Building More Housing Will Help Keep Families in Massachusetts
Massachusetts Joint Committee on Housing, H.1572 & S.962, An Act to Promote Yes In My Backyard -
- | Housing Housing
- | State Testimonies State Testimonies
Accessory Dwelling Units Can Help Unlock Housing Affordability in Colorado
Colorado Senate, Local Government and Housing Committee, HB24-1152 Accessory Dwelling Units -
- | Housing Housing
- | State Testimonies State Testimonies
Accessory Dwelling Units Can Help Unlock Housing Affordability in Colorado
Colorado House Transportation, Housing, and Local Government Committee, HB24-1152, Accessory Dwelling Units -
- | Housing Housing
- | State Testimonies State Testimonies
Regulations Are the Main Cause of Inadequate Housing Supply and Rising Rents in Texas
Texas Senate Committee on Local Government -
- | Housing Housing
- | Public Interest Comments Public Interest Comments
Fewer Restrictions on Lending Can Make Housing More Affordable
-
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Policymakers Should Reevaluate the Premises That Led to an Overhaul of Regulation Z
-
- | Monetary Policy Monetary Policy
- | Public Interest Comments Public Interest Comments
Response to the Federal Housing Finance Agency Request for Comment on How Its Regulations May Be Made More Effective and Less Burdensome
-
- | Housing Housing
- | Expert Commentary Expert Commentary
Another Nevada Hallucination | Erdmann Housing Tracker
-
- | Housing Housing
- | Expert Commentary Expert Commentary
A Reality Check on Relative Home Prices | Erdmann Housing Tracker
-
- | Housing Housing
- | Expert Commentary Expert Commentary
The Housing Crisis Is Making Young Americans Poorer | Investing.com
-
- | Housing Housing
- | Expert Commentary Expert Commentary
The housing crisis is making young Americans poorer. | Erdmann Housing Tracker
-
- | Housing Housing
- | Expert Commentary Expert Commentary
Apartments in the Midwest | Erdmann Housing Tracker
-
- | Housing Housing
- | Expert Commentary Expert Commentary
Housing Rents Show Larger Declines at Low End as Supply Increases | Investing.com
-
- | Housing Housing
- | Expert Commentary Expert Commentary
Housing Supply Myths Face Reality as Market Dynamics Shift | Investing.com
-
- | Housing Housing
- | Expert Commentary Expert Commentary
No, builders don't pull back until rents inflate | Erdmann Housing Tracker
-
- | Housing Housing
- | Expert Commentary Expert Commentary
Hovnanian 1Q 2026 Details | Erdmann Housing Tracker
-
- | Housing Housing
- | Expert Commentary Expert Commentary
Housing Shortage Dynamics Signal Long-Term Growth in Rentals | Investing.com