On a recent visit to CEPT University, I received the generous gift of a few new books from CEPT University Press. One of these, (de)Coding Mumbai by Sameep Padora and Shreyank Khemalapure, is an attractive study of how Mumbai's architecture is a product of its building and zoning codes. The … [Read more...]
Toward an Erdmann synthesis
Kevin Erdmann has a good op-ed in the Washington Post today, arguing one of the two core points that have defined his work for the past several years: Fannie and Freddie have set credit standards too high since 2007. (His other core point, that "closed access" superstar cities have made it too hard … [Read more...]
Stone: Diversity didn’t cause the baby bust
There's a vigorous debate about whether various urban factors, like density, lower birth rates. In a new paper, Umit Gurun and David Solomon propose a new one that they claim accounts for 90% of the recent decline in birthrates: E Pluribus, Pauciores (Out of Many, Fewer): Diversity and Birth … [Read more...]
Harris’ housing target: Compared to what?
Democratic nominee Kamala Harris has pledged to work towards the construction of 3 million new housing units during her term. Setting aside the methods, what does that mean? And, as she said in a speech last week, would it "end America's housing shortage"? First, it's pretty obvious that Harris … [Read more...]
How much does delay cost?
Everyone agrees that delays and uncertainty are costly for housing development. But it's very hard to put a number on it. The obvious costs (lawyer hours, interest over many months) are surely an underestimate. Professors Stuart Gabriel and Edward Kung have a useful answer, at least for Los … [Read more...]
Living on the edge
It's hard to imagine a better example than this: A natural zoning experiment in Denver: These two homes straddle a 2010 zoning boundary change. The result: The house in duplex zoning converted into two homes, and the other converted into a McMansion that cost 80% more.Arthur Gailes, AEI This … [Read more...]
Dataviz links: Over time, across space
Great links for quick data dives: The Historical Housing Prices Project gives rents and home prices from 1890 - 2006 for US cities. It's based on newspaper listings and was led by Ronan C. Lyons, Allison Shertzer, and Rowena Gray. I've added Ronan's blog, Time & Space, to the links below.City … [Read more...]
Can YIMBY policies cause large price declines?
Kevin Erdmann offers a helpful corrective to the "YIMBY triumphalism" of claiming that large relative rent declines in Austin and Minneapolis are results of YIMBY policies. He's mostly correct, especially about the rhetoric: arguing about housing supply from short term fluctuations is like arguing … [Read more...]
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