One common argument against building new housing is that new construction will never reduce housing costs, because the influx of ultra-rich people into high-cost cities creates an insatiable level of demand. I recently found a source of information that may be relevant to this argument: the … [Read more...]
Are High-Rises More Expensive?
One common argument against allowing the construction of taller apartment buildings is that tall buildings cost more to build, and thus are "overwhelmingly occupied by the wealthy." For example, tall buildings, unlike houses and walk-up buildings, require elevators. But in fact, fairly tall … [Read more...]
Jane Jacobs And High-Rises
Since new urbanists (in my experience) tend to be very skittish of high-rise development, one might think that their ideological ancestor Jane Jacobs was one of these people who thought no building should be over five floors. But in her 1958 essay "Downtown Is For People," she hinted at a very … [Read more...]
To Know Home-Sharing Is To Support It
If you read elite commentary on the home-sharing industry (that is, Airbnb and its competitors), especially on the Left, you might think it is quite controversial. However, a recent Pew survey suggests otherwise. According to Pew, very few people know very much about home-sharing. Only 11 … [Read more...]
Are Billionaires To Blame?
One common argument I have read in various places is that the high rent of New York and other large cities is a result of globalization and inequality (English translation: rich foreigners). According to this theory, rich people have created a surge of demand so overwhelming that no amount of … [Read more...]
“Public Schools Only” Vouchers and Sprawl
About a month ago, I wrote about the pros and cons of school vouchers as a solution for "school-based sprawl" (that is, parents moving to suburbs to avoid urban public schools). I noted that a voucher program that included private schools might be expensive, since some private schools are quite … [Read more...]
Supply-And-Demand Denial And Climate Change Denial
I have criticized the idea that the law of supply and demand no longer applies to big-city housing (or, as I call it, supply-and-demand denialism, or "SDD" for short). It just occurred to me that there are a few similarities between supply-and-demand denialists and those who deny climate change. To … [Read more...]
So Much For The Foreign Oligarchs
One common argument against new housing in high-cost cities is that the rise of global capitalism makes demand for urban housing essentially unlimited: if new apartments in Manhattan or San Francisco are built, they will be taken over by foreign billionaires in quest of American real estate, who … [Read more...]