Middle Class

Even after the burst of the housing bubble, the American Dream of home ownership has remained alive in some places. As it turns out the “bubble” was far from pervasive, and as Nobel Laureate Paul Krugman indicated in The New York Times, the housing price increases were largely limited to the areas of the nation with stronger land use regulation.

In all, at the peak of the housing bubble, 46 of 129 US markets had house prices at or below the historic ceiling of three times household incomes (see 4th International Demographia Housing Affordability Survey. Before the bubble, nearly all markets were at or below that norm, but many have risen to double, triple or even more than three times the standard.  read more »

Consider the following two apparently contradictory sets of statistics:

From the Republican convention and much of the media, you’d get the impression that class voting has turned upside down—that the Democrats are the party of the “elite” and the Republicans the new friends of the “working class”.  read more »

By Joel Kotkin and Mark Schill

“Suburbs,” the great urbanist Jane Jacobs once wrote, “must be a difficult place to raise children.” Yet, as one historian notes, had Jacobs turned as much attention to suburbs as she did to her beloved Greenwich Village, she would have discovered that suburbs possessed their own considerable appeal, particularly for those with children.

Although some still hold onto the idea that suburbs are bad places to raise children, in virtually every region of the country, families with children are far more likely to live in suburbs than in cities.  read more »