One argument I have run across recently is that the high cost of housing is caused by mysterious corporate investors are buying up real estate and forcing up the cost.The stupidest version of this argument is that investors are hoarding all the real estate. Why is it stupid? Because … [Read more...]
Financialization and housing costs
One common explanation for high rents is something called "financialization." Literally, this term of course makes no sense: any form of investment, good or bad, involves finances.But I think that the most common non-incoherent use of the term is something like this: rich people and … [Read more...]
Latest rent research
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...]
Get the tuck out of here
Tuck-under duplexes in Palisades Park, NJ (Google Streetview)In two previous posts, I’ve raised questions about the competitiveness of missing middle housing. This post is more petty: I want to challenge the design rigidities that Daniel Parolek promotes in Missing Middle Housing. Although … [Read more...]
In praise of fee simple ownership
In yesterday's post, I showed that missing middle housing, as celebrated in Daniel Parolek’s new book, may be stuck in the middle, too balanced to compete with single family housing on the one hand and multifamily on the other.But what about all the disadvantages that middle housing faces? … [Read more...]
Stuck in the (Missing) Middle
Everybody loves missing middle housing! What’s not to like? It consists of neighborly, often attractive homes that fit in equally well in Rumford, Maine, and Queens, New York. Missing middle housing types have character and personality. They’re often affordable and vintage.Daniel Parolek’s new … [Read more...]
Survey: New Yorkers like Manhattan, the subway and more housing
The Manhattan Institute, a conservative (by New York standards) think tank, recently published a survey of New York residents; a few items are of interest to urbanists. A few items struck me as interesting.One question (p.8) asked "If you could live anywhere, would you live..." in your current … [Read more...]
The Amazing Housing Politics of Spider-Man
How can Spider-Man possibly afford to live in New York? And how can we make the city more affordable for dear Aunt May? In the first episode of my brand new YouTube series on pop-culture urbanism, we dig into the Sam Raimi "Spider-Man" trilogy to uncover the housing problems (and solutions) of … [Read more...]