Given the awful state of the economy, it’s no surprise that Democrats are losing some support among Latinos. But they can still consider the ethnic group to be in their pocket. Though Latinos have not displayed the lock-step party loyalty of African-Americans, they still favor President Barack Obama by 57 percent, according to one Gallup Poll — down just 10 percentage points from his high number early in the administration. read more »
When did anyone last hear officials and professionals talking enthusiastically about the social and economic benefits resulting from the subdivision of land to create secure, clean and tradable title? read more »
Few icons of the American way of life have suffered more in recent years than homeownership. Since the bursting of the housing bubble, there has been a steady drumbeat from the factories of futurist punditry that the notion of owning a home will, and, more importantly, should become out of reach for most Americans. read more »
A decade ago, politics in Australia lurched to embrace all things rural, happily demonizing urban interests. This happened in response to a renegade Politician – Pauline Hanson – who for a time captured public sympathy with populist anti-immigration sentiments, threatening to unseat entire governments in the process. read more »
The foreclosure crisis has been devastating for millions of Americans, but it has also impacted many still working as before and holding on to their homes. Even a couple of empty dwellings on a street can very quickly deteriorate and become a negative presence in the neighborhood, at the least driving down prices further, sometimes attracting crime. Untended pools can allow pests to breed. Many animals have been abandoned and shelters report overflowing traffic. read more »
With much fanfare, the Banking Committee of the United States Senate approved the Livable Communities Act (S. 1619, introduced by Democratic Senator Dodd of Connecticut). A purpose of the act is expressed as:
...to make the combined costs of housing and transportation more affordable to families.
The Livable Communities Act would provide financial incentives for metropolitan areas to adopt "livability" policies, which are otherwise known as "smart growth," "growth management" or "compact city" polices. read more »
If you are looking for a place where you can, in your day dreams, ride out the recession, might I suggest one of the Hamptons? These are the celebrity-drenched villages that stretch for thirty miles across the sand dunes and potato fields of Long Island’s South Fork, which ends at Montauk Point and its lighthouse.
Why the Hamptons for a depression-era exile? For starters, if you’re a seller, the Hamptons remain Paradise. Fishermen’s cottages start at $1 million, oceanfront property goes for about $7 million an acre, and the street value of guacamole rivals that of cocaine. read more »
Paul Krugman got it right. But it should not have taken a Nobel Laureate to note that the emperor's nakedness with respect to the connection between the housing bubble and more restrictive land use regulation. read more »
Every week we read that yet another major housing project has been turned down by the Courts here in New Zealand because of the need to protect "rural character" or "natural landscapes". This may well have profound short and long-term consequences for the future of our middle class, as it does for the same class in countries around the advanced world.
Every week a multitude of smaller developers abandon their projects because Councils’ compliance costs and development contributions make the projects unviable – even if the land were free. And it’s not. read more »
Few finance issues have received such a wide range of opinions among financial experts than the "housing bubble" in China. This is an issue of international importance because what happens in what is now the world’s 2nd largest economy affects the rest of the world. read more »