A common argument against new housing supply is that in high-cost cities such as New York, demand from foreign buyers is so overwhelming as to make new supply irrelevant. A recent study (available here) by two business school professors suggests otherwise. The study does show more foreign … [Read more...]
Yglesias Gives Best Tweetstorm Ever
Matthew Yglesias has a group of tweets that begin with this:Someone needs to give me an Oscar one of these years so I can subject America to a tedious discussion of land use regulation. — Matthew Yglesias (@mattyglesias) February 27, 2017"In the movies, there is no minimum lot size or … [Read more...]
My New Book On Market Urbanism
I am happy to announce that my new book "Government Intervention and Suburban Sprawl: The Case for Market Urbanism" is now available at Amazon. There is a "look inside the book" feature at the book's Amazon webpage for those who would like to know more.I would like to thank not just the readers … [Read more...]
The Land Value Argument Against New Housing
One common argument against new housing is that permitting it causes land to become more valuable, thus leading to higher rather than lower rents. It seems to me that this argument is unpersuasive for a few reasons.First, if it was true, places with permissive zoning would have higher rents … [Read more...]
The Sheer Craziness Of New York City’s Rent Stabilization Mandates
Recently, I met someone who was trapped in a terrible apartment. Why "trapped"? For months (if not years) she had been in an adversarial relationship with both her landlord and her neighbors, but she can't quite bring herself to leave. Why not?First, she is in a rent-stabilized apartment, and … [Read more...]
Thoughts On Today’s Emily Hamilton Vs. Randal O’Toole Cato Discussion
Because of work obligations, I listened to only about a third of today's Cato Institute discussion on urban sprawl. I heard some of Randall O'Toole's talk and some of the question-and-answer period.O’Toole said high housing prices don’t correlate with “zoning” just with “growth constraints.” … [Read more...]
One Reason Why Subsidies Aren’t the (Only) Solution
I was rereading the Obama Administration's surprisingly market-oriented policy paper on zoning and affordable housing, and saw one good point that I had never really thought about.One common anti-development argument is that government should subsidize housing for the poor instead of allowing … [Read more...]
Kotkin And The Atlantic- Spreading ‘Localism’ Nonsense Together
The Atlantic Magazine's Citylab web page ran an interview with Joel Kotkin today. Kotkin seems to think we need more of something called "localism", stating: "Growth of state control has become pretty extreme in California, and I think we’re going to see more of that in the country in general, … [Read more...]