Housing

Pittsburgh and Rochester have the best housing affordability among 91 major markets (metropolitan areas with more than 1,000,000 population) in eight nations. Both have a median house price that is 2.6 times the median household income, a measure called the Median Multiple. This is the conclusion of the 15th Annual Demographia International Housing Affordability Survey, which rates housing markets based on estimates from the 3rd quarter of 2018.  read more »

The Democratic Party’s triumphal romp through suburbia was the big story of the midterms.

In 2016 the suburbs, home to the majority of American voters, voted 50 to 45 for Donald Trump; this year, 52 percent went Democratic.  read more »

UCLA management professor Jerry Nickerson thinks he has found a solution to California’s housing affordability problems: high-speed rail. Based on years of data, he has concluded that some Japanese who work in Tokyo and other expensive cities make long commutes on high-speed trains to more affordable cities elsewhere in the country.  read more »

A youthful and handsome appearance, the blessings of the autocrats and clerics of our times, and a fawning media — all these belonged to French President Emmanuel Macron just a year ago. He was praised as everything from the “new leader of the Free World” to Europe’s Reagan.

Today Macron’s presidency is adrift, paralyzed by grassroots opposition to his policies — mostly from the middle and working classes — and a popularity rating about half of that suffered by Donald Trump. Is this the fate that awaits our new governor, Gavin Newsom?  read more »

America’s suburbs and exurbs continue to dominate population growth among post-college Millennials, those aged 25 to 34 in the 53 major metropolitan areas. This is indicated by data in the just released 2013/2017 American Community Survey (ACS), which provides a mid-decade snapshot of US demography. With its middle sample year of 2015, the 2013/2017 ACS is most representative of the middle of the decade between the 2010 and 2020 censuses (Note 1).  read more »

I was included in an e-mail thread last week about a 19,000 unit master planned community on the far edge of Los Angeles County. There’s an on-going debate about whether this is part of California’s housing solution or part of the problem. Centennial is one of three proposed residential developments at Tejon Ranch. It hugs the border of Kern County thirty miles outside of Bakersfield and three mountain ranges from LA proper. After a couple of decades of negotiations it was finally approved by the authorities.  read more »

“Hong Kong’s infatuation with multi-million dollar shoebox homes is over as quickly as it began,” trumpets a December 21 headline in the South China Morning Post. According to Hong Kong’s largest English language newspaper, since 2016, there has been a spate of micro-flats construction, with 18 times as many built this year as in 2013. Micro-flats typically have less than 200 square feet of living space (19 square meters).  read more »

When cities pass zoning rules (as Missoula, Portland, and many Portland suburbs have done) mandating minimum-density zoning — so that people are forced to either build high-density housing in existing low-density neighborhoods or build nothing at all — libertarians lead the charge against such rules. But urban planners have managed to achieve the same result, and gain the support of some who consider themselves libertarian, by:  read more »

In a recent article published in Housing Wire (and in many other places), it was told that Minneapolis will abolish single family housing as part of the Metropolitan Councils 2040 plan. Much of the reason seems to be based on the idea that people in single family homes are discriminating against minorities and the poor, who can only afford apartments, although of course many people of color own homes, or would like to.  read more »

Little over a decade ago, the housing sector almost brought down not only the American but the world economy. Today the reprise of the housing decline will be playing a very different tune.  read more »