Housing

Has the California proposition changed fundamentally? And does it matter for real estate?

The answer to the first question is yes—the state had a net population decline in 2021, the first drop since it began annual counts more than a century ago.  read more »

Housing is rapidly becoming the key economic issue facing America's beleaguered middle class. Even as interest rates rise, rents are on a wild binge, up near 20 percent in the past year or more in some cities. Meanwhile, home prices have hit a high and appear to be climbing further still. Higher prices are emerging even in what have long been relative bargain communities in the southeast, as refugees from the high-priced Northeast pour in with their greater resources.  read more »

Perhaps nowhere is the gap between America’s cognitive elite and its populace larger than in their preferred urban forms. For nearly a century—interrupted only by the Depression and the Second World War—Americans have been heading further from the urban core, seeking affordable and safe communities with good schools, parks, and a generally more tranquil lifestyle.  read more »

Some metropolitan areas continue to have higher costs of living relative to the national average. The most important component is the extent to which higher housing costs contribute to these differences. Our Urban Reform Institute Standard of Living Index showed that more than 85% of the difference between costs in the more expensive metropolitan areas and the nation was attributable to housing (Figure 1).  read more »

There are lots of ways of measuring how New Zealand is doing, and none of them is perfect.

We stack up very well on measures like life expectancy, unemployment, infant mortality, and car ownership.  read more »

I’m back. I haven’t written much lately but I am always reading and gathering topics for future posts. Here’s one.

Over the last 2-3 months, I’ve come across Twitter discussions among many self-professed YIMBY (Yes In My Back Yard) advocates. If you’re familiar with YIMBYs you know that they believe the lack of housing affordability in American cities largely stems from regulatory restraints that limits housing production.  read more »

As the recently ended decade evolved, migration from more costly US metropolitan areas to those with lower costs increased. This developing dispersion is indicated in net domestic migration among the nation’s 384 metropolitan areas from 2010 to 2020. This article categorizes the 384 metropolitan areas by Bureau of Economic Analysis 2020 Regional Price Parities (cost of living), and their net domestic migration.  read more »

In September, 2021, California Governor Gavin Newsom signed a bill abolishing single-family zoning. This bill was a victory for the Yes in Other People’s Back Yards (YIOPBY) movement, as well as for urban planners who sought to densify California urban areas, which are already the densest in the nation.  read more »

So, there’s yet another inquiry into housing affordability underway. This latest is called “The House of Representatives Standing Committee on Tax and Revenue inquiry into housing affordability and supply in Australia.” Chaired by NSW Liberal MP Mr Jason Falinski, it’s getting a few headlines with statements like ‘half the cost of new house and land packages consist of state and local government charges.’  read more »

Nashville’s has long been known as “Music City,” a title that dates nearly a century to 1925 when the first “Grand Ole Opry” performance was held in the Ryman Auditorium (above). For even longer, Nashville has been the capital of Tennessee, with the 10th oldest state capitol building in the nation (below). But the big story increasingly has been the area’s rapid growth  read more »