One common argument against new urban housing runs as follows: "If we build new housing, it will all be bought up by rich investors who will sit on it. So new supply doesn't restrain housing costs." This argument (at least as I have phrased it) strikes me as absurd. Here's why: for the argument … [Read more...]
YIMBYism: Its Not Just For Conservatives
Last week, I posted about an attack on YIMBYs (activists who favor less zoning and more housing) that used the term "alt-right"; the authors of that blog post recently doubled down with a slightly more moderate op-ed that still tarred YIMBYs as "aligned with conservative right-wing … [Read more...]
What makes Philadelphia so affordable?
In 2005, Joseph Gyourko published an economic history of Philadelphia. He explored the economic and policy factors that contributed to its population and job loss during the twentieth century. Gyourko's outlook for Philadelphia was pessimistic. He argued that the city lacked the supply of skilled … [Read more...]
How Governments Outlaw Affordable Housing
This post was originally published at mises.org and reposted under a creative commons license.It's no secret that in coastal cities — plus some interior cities like Denver — rents and home prices are up significantly since 2009. In many areas, prices are above what they were at the peak of the … [Read more...]
An Attack on Market Urbanism
The far-left "TruthOut" web page recently published an attack on YIMBYs,* describing them as an "Alt-Right" group (despite the fact that the Obama Administration is pro-YIMBY). I was surprised how little substance there was to the article; most of it was various ad-hominem attacks on YIMBY … [Read more...]
A Guide to Urban Development [Guia de Gestão Urbana]
Caos Planejado, in conjunction with Editora BEI/ArqFuturo, recently published A Guide to Urban Development (Guia de Gestão Urbana) by Anthony Ling. The book offers best practices for urban design and although it was written for a Brazilian audience, many of its recommendations have universal … [Read more...]
Conflicting Affordable Housing Policies
Inclusionary zoning allows a few people to live in desirable, new construction buildings for much less than market rates. But it also carries with it a slew of perverse consequences. Because it's a tax on construction, it reduces supply. Inclusionary zoning also leads developers to build higher-end … [Read more...]
Where The Permits Are
Thanks to Stephen Smith, I recently ran across an interesting database: HUD data on building permits by municipality. So I decided to find the number of permits per 1,000 for a wide variety of cities, focusing on (1) multifamily permits (because rising rent is a bigger problem in most places than … [Read more...]