Many readers of this blog know that government subsidizes driving- not just through road spending, but also through land use regulations that make walking and transit use inconvenient and dangerous. Gregory Shill, a professor at the University of Iowa College of Law, has written an excellent … [Read more...]
Big Media Gets Big Buildings Wrong
While reading someone else's work, I recently ran across an article by David Cay Johnston of the New York Times, claiming that overseas oligarchs turning apartments all over the world into unused "ghost apartments". In this article, Johnston writes: "In Paris, for instance, one apartment in four … [Read more...]
Evidence that home-sharing doesn’t raise rents
A common argument against Airbnb and similar home-sharing companies is that they raise rents, because every apartment used for short-term rentals could be used for long-term rentals. A recent paper by a Spanish Ph.D. candidate suggests otherwise.The paper focused on Santa Monica, California … [Read more...]
New York State’s Property Tax Cap
One reason for California’s high housing costs might be Proposition 13. This law, passed by referendum in the 1970s, may discourage housing production in two significant ways.First, under Proposition 13, all housing- even vacant land- is taxed at its original purchase price rather than its … [Read more...]
New and Noteworthy: Randy Shaw’s Generation Priced Out
In Generation Priced Out, housing activist Randy Shaw writes a book about the rent crisis for non-experts. Shaw's point of view is that of a left-wing YIMBY: that is, he favors allowing lots of new market-rate housing, but also favors a variety of less market-oriented policies to prevent … [Read more...]
Two Cheers for PHIMBY
One alternative to market urbanism that has received a decent amount of press coverage is the PHIMBY (Public Housing In My Back Yard) movement. PHIMBYs (or at least the most extreme PHIMBYs) believe that market-rate housing fails to reduce housing costs and may even lead to gentrification and … [Read more...]
The land price argument and why it fails
One common argument against all forms of infill development runs something like this: "In dense, urban areas land prices are always high, so housing prices will never be affordable absent government subsidy or extremely low demand. Furthermore, laws that allow new housing will make land prices even … [Read more...]
Response to “Steelmanning the NIMBYs”
Scott Alexander, a West Coast blogger, has written a post that has received a lot of buzz, called "Steelmanning the NIMBYs"; apparently, "steelmanning" is the opposite of "straw manning"; that is, it involves making the best possible case for an argument you don't really support. There have been … [Read more...]