Paul Krugman asks a question that has been addressed at Market Urbansim:But here’s a question rarely asked, at least in Washington: Why should ever-increasing homeownership be a policy goal? How many people should own homes, anyway?Listening to politicians, you’d think that every family … [Read more...]
Socialist Cities
So, you think the planners in your area are taking something a little too far? Be glad you aren't in Venezuela...I wish I could link to the article by Michael Mehaffy in The Urban Land Institute's May edition of Urban Land titled "Venezuela's New Socialist Cities", but ULI doesn't provide the … [Read more...]
Bush’s “Ownership Society” and Subprime
From Rationalitate - The WaPo finally realizes the root cause of the subprime crisisAgencies like FHA and HUD, and pseudo-private agencies like Fannie Mae and Freddie Mac, were the government's tool to manipulate the market for mortgages, and manipulate it they did: 40% of all mortgages are … [Read more...]
Want Density? Turn the Free Market Loose
Matthew Yglesias - What Price Density The solution, as Ryan Avent says, is to build denser communities. We ought to build more transit infrastructure, of course, but it's cheaper to use what we already have more intensively. And, of course, it's more practical to build new infrastructure if there's … [Read more...]
LA’s New Housing Rules Band-aid the Symptoms, Exacerbate the Problem
LA Times: Los Angeles limits 'mansionization,' downtown hotel conversionsReason: In Soviet Los Angeles, Housing Affordables You!LA's City Council voted unanimously to treat the symptoms of the City's gentrification problem by restricting property owner's right to improve their … [Read more...]
Mortgage-Interest Deduction: The Unseen Costs
In general, I am opposed to just about any tax increase. However, the mortgage interest deduction is one of my least favorite tax breaks. First of all, it's a regressive tax deduction that transfers wealth from renters and businesses to homeowners. Second, it causes home prices to rise relative … [Read more...]
Bigger isn’t necessarily better
Wall Street Journal Blog: Are McMansions Making Some Americans Unhappy? … [Read more...]