Housing

Why British Prosperity is Hobbled by a Rigged Land Market

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The British have the least living space per head, the most expensive office rents and the most congested infrastructure of any EU-15 country. Thanks to a rapidly growing population –  the result of a healthy birth-rate and immigration – these trends are worsening steadily. At the same time, the British economy is languishing in a prolonged slump brought on by a collapse of demand. The answer is obvious: Britain needs to build more. Unfortunately, the obstacles to development are formidable.  read more »

Gentrification and its Discontents: Notes from New Orleans

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Readers of this forum have probably heard rumors of gentrification in post-Katrina New Orleans. Residential shifts playing out in the Crescent City share many commonalities with those elsewhere, but also bear some distinctions and paradoxes. I offer these observations from the so-called Williamsburg of the South, a neighborhood called Bywater.

Gentrification arrived rather early to New Orleans, a generation before the term was coined. Writers and artists settled in the French Quarter in the 1920s and 1930s, drawn by the appeal of its expatriated Mediterranean atmosphere, not to mention its cheap rent, good food, and abundant alcohol despite Prohibition.  read more »

In California, Don't Bash the 'Burbs

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For the past century, California, particularly Southern California, nurtured and invented the suburban dream. The sun-drenched single-family house, often with a pool, on a tree-lined street was an image lovingly projected by television and the movies.  read more »

That Sucking Sound You Hear…Solutions to America’s Housing Crisis Are Needed

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There is a crisis in America that’s not being attended to. It is the housing crisis, and its tentacles reach deep into the decline of the American middle class. Particularly, the interlocking dynamics of foreclosure, abandonment, and blight are draining the net worth of millions of Americans. The solutions to date have been piecemeal and ineffective.  read more »

America's Oldest Cities

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One of the most important turning points in the social history of the United States occurred at the beginning of the 1940s. This is not about Pearl Harbor or the Second World War, but  rather about the economic, housing and transportation advances that have produced more affluence for more people than ever before in the world.  read more »

More Bubble Trouble in California?

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Just six years since the last housing bubble, California is blowing up another. This may seem like good news to homeowners and speculators alike but it could further accelerate the demise of the state's middle class and push more businesses out of the state.  read more »

Gentrification as an End Game, and the Rise of “Sub-Urbanity”

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“It took a bit of wind out of my sails, watching what happened in this neighborhood, watching how it happened…I don’t know how to beat this [gentrification]. I don’t know how anyone can beat this machine.”—From the article The Ins and Outs

The Generalization of Gentrification  read more »

The Evolving Urban Form: Rio de Janeiro

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Rio de Janeiro was the capital of Brazil from before independence from Portugal was declared in 1822. That all changed in 1960, when the capital moved to the modern planned city of Brasilia, more than 500 miles (800 kilometers) inland. The move, however, did nothing to slow Rio de Janeiro's growth, as the metropolitan area (as designated by Brazil's census agency, the Instituto Brasileiro de Geografia e Estatística),  added 7 million people – a 150 percent increase in population – over the ensuing 60 years  read more »

Britain's Housing Crisis: The Places People Live

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For twenty years British house building has fallen behind demand, forcing up prices and rents. Here's a series of photos showing some of the things people have had to do to live.

Victoria Campbell was living in a shed in her parents' garden in Havant, while she and her fiance saved up for a deposit, but the Council has told her that she has to move out.  read more »

Demographic and Economic Challenges: The 9th Annual Demographia International Housing Affordability Survey

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The just released 9th Annual Demographia Housing Affordability Survey (pdf) indicates that housing affordability has deteriorated modestly in the last year. A number of major metropolitan areas remain severely unaffordable.

Highlights: Metropolitan Areas

Among the 337 Metropolitan markets analyzed, Hong Kong remained the most unaffordable, with a median multiple (median house price divided by pre-tax median household income) of 13.5, up nearly a full point from last year's 12.6.  read more »