Articles of Interest
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How Corporations Are Cashing In on Subsidized Low-Income Housing
2024-11-04
The New Republic
The government’s leading program for creating affordable rentals is enriching corporate landlords while making life hell for struggling tenants—and politicians including Kamala Harris want to double down on it.
Housing dominates San Diego mayoral race
2024-11-01
Axios
Of the 9,632 housing permits issued in 2023, 73% were in the "above moderate" price category, while the rest were reserved for residents with very low, low or moderate incomes. Research shows housing production at all price levels makes housing more affordable, including in low-income areas. [i.e., filtering]
William Baumol's insights into the construction productivity puzzle explain why my old house would not be built the same way today
2024-10-20
Fresh Economic Thinking
A house today is not the same as a house historically. We made our houses better because we are richer now and housing is a great thing to invest in with extra wealth and income.
23-Story ‘Pencil’ Tower High-Rise Proposed for Pacific Beach
2024-10-04
OB Rag
A developer is proposing a 23-story high rise at 970 Turquoise Street in PB. It is supposed to have 139 hotel rooms on 9 floors and 74 housing units on the other floors, including a whooping 10 units as affordable (5 very low income and 5 moderate income). It proposes 7 floors (2 below ground) of parking alone.
The house-price supercycle is just getting going
2024-10-01
The Economist
After the financial crisis of 2007-09, global house prices fell by 6% in real terms. But, before long, they picked up again, and sailed past their pre-crisis peak. When covid-19 struck, economists reckoned a property crash was on the way. In fact there was a boom, with mask-wearing house-hunters fighting over desirable nests. And then from 2021 onwards, as central banks raised interest rates to defeat inflation, fears mounted of a house-price horror show. In fact, real prices fell by just 5.6% — and now they are rising fast again. Housing seems to have a remarkable ability to keep appreciating, whatever the weather. It will probably defy gravity even more insolently in the coming years.
The government cannot solve America’s housing crisis
2024-09-11
The Hill
Government interventions in housing have a long history of falling short of their lofty promises. In many cases, they have resulted in outright failures. And the American Housing and Economic Mobility Act is likely destined to meet the same fate. To address the housing crisis, we need a bold shift toward market-driven solutions that focus on expanding the overall supply of housing, rather than relying on ineffectual and costly subsidies.
Ed Glaeser: Harvard's housing huckster
2024-09-08
Fresh Economic Thinking
As a quick summary, Glaeser and Gyourko assume in this paper that in an unregulated market,cities will only have detached housing and that every home in every city will have the same market price which is always construction cost multiplied by1.4625. Absurd, right?
How Americans Voted Their Way Into a Housing Crisis
2024-09-08
CityLab
On The Housing Crisis: Land, Development, Democracy is a collection of reported essays by Demsas that explores the role that democratic structures play in perpetuating a housing shortage. Writing with plain yet authoritative language, she tackles the difference between such thorny economic concepts as shortage denialism and supply skepticism, showing how they manifest in real communities. Yet she also writes from the ground level to explore the toll of hyperlocal overdemocracy, connecting rational decisions by neighborhoods to reject development to an irrational picture of a country that can no longer build.
The kooky housing supply filtering debate
2024-08-25
Fresh Economic Thinking
Filtering is a concept in housing analysis that describes the fact that people occupying new homes come from other homes. Sometimes these relocations are described as moving chains.
For an outsider, the attention to such a niche concept might seem a little strange. After all, where else do people come from to occupy new homes if not existing ones?
Beverly Hills blocks 19-story Builder's Remedy development
2024-07-01
Urbanize Los Angeles
At its June 27 meeting, the Beverly Hills City Council voted 5-0 to deny an appeal from developer Leo Pustilnikov challenging an October 2013 incomplete application determination made in response to his proposed project at 125-129 S. Linden Drive. The proposed development would consist of a 19-story, approximately 200-foot-tall building featuring 165 apartments - 20 percent of which would be rented to lower income households - and a 73-room hotel.
Study finds US does not have housing shortage, but shortage of affordable housing
2024-06-17
University of Kansas
The United States is experiencing a housing shortage. At least, that is the case according to common belief — and is even the basis for national policy, as the Biden administration has stated plans to address the housing supply shortfall. But new research from the University of Kansas finds that most of the nation’s markets have ample housing in total, but nearly all lack enough units affordable to very low-income households.
Single-Family Zoning in California: A Statewide Analysis
2024-05-22
Usual bits about exclusionary zoning and all of the land locked up in supposed single-family neighborhoods.
Cement recycling method could help solve one of the world’s biggest climate challenges
2024-05-22
University of Cambridge
The method, which the researchers say is “an absolute miracle”, uses the electrically-powered arc furnaces used for steel recycling to simultaneously recycle cement, the carbon-hungry component of concrete.
Buying better income taxes with better land taxes
2024-03-17
Prosper Australia
This Prosper Australia Research Note shows that if Australian states were to meet a benchmark level of efficient taxation from the land value base, the additional revenue raised could fund removal of the most significant distortions in the tax and transfer system, leading to higher workforce participation, economic activity, and well-being.
Cabal of billionaires release new images of proposed California city they say could house 400,000 people and provide good jobs for all residents
2024-03-08
Daily Mail
'California Forever' have released a new advertisement showing new proposals for their utopian city.
The group are promising 'walkable, middle class neighborhoods that we can afford' in the new ad, as well 15,000 new jobs in manufacturing and tech.
Images shared by the group show rolling landscapes with families enjoying a picnic amongst a cluster of trees, while youngsters are seen cycling.
Scientists make breakthrough in research that could change the way our homes are constructed: ‘A significant result’
2024-02-22
The Cool Down
Researchers at the UK's Newcastle University are using fungal networks (called mycelium) to build structures. The goal is to create lighter-weight buildings, reducing our reliance on concrete and lessening negative environmental impact.
New Tenant Rent Index
2024-01-31
U.S. Bureau of Labor Statistics
"The New Tenant Rent Index and All Tenant Regressed Rent Index are research index series that use data sourced from data collected in the Consumer Price Index (CPI) Housing Survey. The New Tenant Rent Index (R-CPI-NTR) measures prices renters would face if they changed housing units every period. The rent component of the official CPI measures the change in all rents, including new leases, renewals, and rents in the middle of a lease. In contrast, the New Tenant Rent Index uses only a subset of the data the official CPI uses, namely the first survey observations after new tenents move into their sampled housing units. The All Tenant Regressed Rent Index (R-CPI-ATR) is a measure with a scope similar to the CPI, but using methodology similar to the New Tenant Rent Index. The All Tenant Regressed Rent Index measures the rent paid by all renters, both new and continuing, and incorporates most of the survey data used for the CPI Rent of primary residence index. The All Tenant Regressed Rent Index is published alongside the New Tenant Rent Index to facilitate comparisons."
Nowhere Is Income Inequality More Visible Than California
2024-01-28
India Currents
If California was a country it would have the sixth largest GDP in the world, however, as the economy has grown so has income inequality. And nowhere is this more apparent than in the San Francisco Bay Area, home to tech giants minting millionaires, but also a population of service workers and tech professionals that can barely afford to live here. A drive down the quiet, pristine streets of Mountain View and Palo Alto shows rows of RV’s housing folks that cannot afford the high rents in these towns.
S.M.a.r.t Column: ARB (NOT Ready to Build!)
2024-01-28
Santa Monica Mirror
ARB is asked to evaluate structures that presumably fits within all of the other regulatory conditions, such as height, floor area, percentage of lot coverage, setbacks, and approved uses. And, in the case of a “housing” project that states 15% of the units will be “affordable,” it is, therefore, able to become a beneficiary of State HCD (Housing & Community Development) “development bonuses.” Gelson’s is such a project at the intersection of Ocean Park Blvd. & Lincoln Blvd.