In his new book Arbitrary Lines, Nolan Gray points out that Tokyo is more affordable than many U.S. cities because its zoning policies are less restrictive.One common counterargument is that because Tokyo is a population-losing city in a population-losing city, it simply lacks the demand to have … [Read more...]
Review: Homelessness is a Housing Problem
In Homelessness is a Housing Problem, Prof. Gregg Colburn and data scientist Clayton Page Aldern seek to answer the question: why is homelessness much more common in some cities than in others?They find that only two factors are significant: 1) overall rents and 2) rental vacancy rates. Where … [Read more...]
Getting to “Yes”
In laudable news, the Pew Charitable Trusts have backed a research project at NYU’s Furman Center to commission and publish work “to understand how specific land use reforms…have affected outcomes on the ground, especially with respect to residential development.”While looking forward to that … [Read more...]
The banks aren’t beating first time buyers – It’s the NIMBYs.
A few weeks ago the Times reported that Lloyds Banking Group had purchased 45 new homes to let in Peterborough. This is part of a plan for Lloyds to own 50,000 homes by 2031. Given the median home in the City is now worth over 7 times the annual earnings of the typical resident, it is understandable … [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...]
Local iniquity
There was an interesting article in the New York Times magazine this week on the rise of extended stay hotels, which specialize in renting to a group within the working poor- people who have the cash for weekly rent, but cannot easily rent traditional apartments due to their poor credit … [Read more...]
The Duplex: Gateway Drug to Urban Density
After over a century, Berkeley, California may be about to legalize missing middle housing - and it’s not alone. Bids to re-legalize gradual densification in the form of duplexes, triplexes, fourplexes, and the like have begun to pick up steam over the last several years. In 2019, Oregon legalized … [Read more...]
California Housing Reform: 2021 Edition
Current events being what they are, I’m happy to be writing about something positive. Once again, we’re getting an ambitious housing reform package in the California legislature. The various bills focus on removing obstacles to new housing and are a sign of the growing momentum Yimby activists have … [Read more...]