In 2005, Joseph Gyourko published an economic history of Philadelphia. He explored the economic and policy factors that contributed to its population and job loss during the twentieth century. Gyourko's outlook for Philadelphia was pessimistic. He argued that the city lacked the supply of skilled … [Read more...]
How Governments Outlaw Affordable Housing
This post was originally published at mises.org and reposted under a creative commons license.It's no secret that in coastal cities — plus some interior cities like Denver — rents and home prices are up significantly since 2009. In many areas, prices are above what they were at the peak of the … [Read more...]
A Guide to Urban Development [Guia de Gestão Urbana]
Caos Planejado, in conjunction with Editora BEI/ArqFuturo, recently published A Guide to Urban Development (Guia de Gestão Urbana) by Anthony Ling. The book offers best practices for urban design and although it was written for a Brazilian audience, many of its recommendations have universal … [Read more...]
Government-Created Parking Externalities
In new research on parking policy in the Journal of Economic Geography, Jan Brueckner and Sofia Franco argue that residential developers should be required to provide more off-street parking in places where street parking contributes to traffic congestion. They argue that because traffic congestion … [Read more...]
Market Urbanist Book Review: Cities and The Wealth of Nations by Jane Jacobs
No one writer of the last 60 years has influenced urban planning and thinking as much as Jane Jacobs. It seems like just about everyone who has ever set foot in a major city has read The Death and Life of Great American Cities and most professional urban planners have embraced at least part of her … [Read more...]
Market Urbanism Is Still Underrated
New data keeps coming in that shows that increases in housing supply tend to be followed by declining rental rates, even in the cities facing the highest demand. After a boom year for apartment construction in 2016, rents are falling in New York City, San Francisco, and Washington, DC.Median … [Read more...]
Conflicting Affordable Housing Policies
Inclusionary zoning allows a few people to live in desirable, new construction buildings for much less than market rates. But it also carries with it a slew of perverse consequences. Because it's a tax on construction, it reduces supply. Inclusionary zoning also leads developers to build higher-end … [Read more...]
If Landlords Can Profit, Homes Must Be Great Investments, Right?
Homeownership boosters use many arguments in favor of buying rather than renting, one of which is that purchasing a home is a key part of the path toward a lifetime of financial success. They often say that renters are helping landlords profit when they would be better off paying their own … [Read more...]