A recent paper by UCLA researchers discusses 2019-20 literature on the relationship between new construction and rents. The article discusses five papers; four of them found that new housing consistently lowers rents in nearby buildings.For example, Kate Pennington wrote a paper on the … [Read more...]
The Storper paper: not exactly a bombshell
Some commentators are slightly agog over an academic paper by Andres Rodrieguz-Pose and Michael Storper; Richard Florida writes that they shows that " the effect of [housing] supply has been blown far out of proportion. "Most of this paper isn't really about the effect of housing supply on … [Read more...]
does gentrification cause eviction?
I found an interesting new website: EvictionLab. This website contains eviction data by city for a large number of American communities.One might think that gentrifying cities and/or high cost cities have more evictions. But interestingly, low-cost, poor cities tend to have more evictions. … [Read more...]
The absence of gentrification causes displacement
Some progressives believe that gentrification causes displacement of poor people, that new market-rate housing causes such gentrification, and thus that new housing must be kept out of low-income neighborhoods.The first of these claims is based on the assumption that absent gentrification, … [Read more...]
Mini review: Vanishing New York, by Jeremiah Moss
I recently read a highly publicized pro-NIMBY book, Vanishing New York. The author, who goes by the pen name "Jeremiah Moss" tells a simple story: throughout New York, gentrification and chain stores are on the march, making the city rich and boring. The story has an element of truth: obviously, … [Read more...]
TILTs for Income Mobility
Land-use scholars have offered a variety of policy proposals that attempt to identify institutional reforms to reduce the incentive for homeowner NIMBYs to protest development. For example, in a 2013 paper law professor David Schleicher proposed a policy called Tax Increment Local Transfers (TILTs). … [Read more...]
Is Inclusionary Zoning Legal?
Market Urbanism may soon have a hearing in the Supreme Court. Two of my colleagues at the Mercatus Center, Sandy Ikeda, half a dozen other professors, and I argue that the Court should take up the case 616 Croft Ave., LLC, v. City of West Hollywood. The case is an opportunity for the Court … [Read more...]
Rent Control Again
A blog post in Pacific Standard seeks to defend rent control- an idea that, as the author admits, is generally detested by economists.The author writes that "rent regulations give tenants a greater stake in their community and incentivize them to put time, energy, and even money into their … [Read more...]