Housing

People care deeply about where they live. If you ever doubt that, remember this: they staged massive protests over a park in Istanbul. Gezi Park near Taksim Square is one of that ancient city’s most beloved spots.  read more »

Recently published research by Brian N. Jansen and Edwin S. Mills represents notable addition to the already rich academic literature that associates more stringent land use regulation with higher house prices. The analysis is unusually comprehensive and its conclusions indicate greater consequences than is usually cited. Mills is Professor Emeritus of Real Estate and Finance at Northwestern University and is renowned for his contributions to urban economics over more than five decades.  read more »

Suburbia has been a favorite whipping boy of urbane intellectuals, who have foretold its decline for decades. Leigh Gallagher's "The End of the Suburbs" is the latest addition to this tired but tireless genre. The book lacks the sparkling prose and original insights one could find in the works of, say, Jane Jacobs or Lewis Mumford. Indeed, Ms. Gallagher's book is little more than a distillation of the conventional wisdom that prevails at Sunday brunch in Manhattan.

The author restages many of the old anti-suburban claims, and her introduction's section headings easily give away the gist of the argument: "Millennials hate the burbs"; "Our households are shrinking"; "We are eco-obsessed"; "The suburbs are poorly designed to begin with"; and so on.  read more »

Sure, suburbs have big problems. Their designs force their inhabitants to drive in cars, instead of walking and bicycling. This diminishes face-to-face interactions, physical health, and the quality of the environment. Aesthetically, many of them, particularly those dreaded “planned communities,” are quite boring. People who live there tend not to have much contact with people who aren’t like them, so suburbs reinforce racial, religious, and class segregation.  read more »

Members of the millennial generation – born between 1982 and 2003 – carry a student debt burden of close to one trillion dollars. This is the group that includes many just entering the stage in life when people tend to settle down and start families. Even though Millennials are marrying later than previous generations, they would still be the prime market for sales of single family starter homes, if only they could afford them.  read more »

In the 1950s and 1960s, Southern California was ground zero for the "American Dream" of owning a house. From tony Newport Beach and Bel-Air to the more middle-class suburbs of the San Fernando Valley and Garden Grove to working-class Lakewood, our region created a vast geography of opportunity for prospective homeowners.  read more »

In the housing industry, land planners are the first to be dropped during a downturn… and the first needed in an upturn. A good way to monitor the optimism of the housing development market is to monitor the volume of land planning.

The land plan is the beginning of a long and arduous process. Unlike architecture, which is relatively quick from design to construction, land planning takes patience. It can easily consume a year or two (or more) for a US neighborhood to go from the initial design stages to the beginning of construction.  read more »

The current housing recovery may be like manna to homeowners, but it may do little to ease a growing shortage of affordable residences, and could even make it worse. After a recession-generated drought, household formation is on the rise, notes a recent study by the Harvard Joint Center on Housing Studies, and in many markets there isn’t an adequate supply of housing for the working and middle classes.  read more »

“There is a secret at the core of our nation. And those who dare expose it must be condemned, must be shamed, must be driven from polite society. But the truth stalks us like bad credit.” – Writer Ta-Nehisi Coates

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With the recent Supreme Courts strike down of the 1965 Voting Rights Act, which was created to protect minority representation, the headline in the Huffington Post read “Back to 1964?” While some contend the title hyperbolic, the HuffPost lead, if not the strike down itself, reflects the reality of a country still tethered to its discriminatory past.  read more »

In May 2013, the district of Husby in suburban Stockholm, Sweden was shaken by “angry young men” engaging in destructive behavior for about 72 hours,¹ including the burning of automobiles and other properties and attacks on police officers (over 30 officers were injured). The violence spread to the nearby districts of Rinkeby and Tensta as well as to other parts of Sweden.  read more »