A blog post in Pacific Standard seeks to defend rent control- an idea that, as the author admits, is generally detested by economists.The author writes that "rent regulations give tenants a greater stake in their community and incentivize them to put time, energy, and even money into their … [Read more...]
Market Urbanism MUsings March 18, 2016
1. This week at Market Urbanism: Nolan Gray's latest post, Liberate the Garage!: Autonomous Cars and the American DreamAt present, zoning laws effectively prohibit entrepreneurs from using their garages for business. In many Americans cities, hiring employees, hosting visitors, putting up … [Read more...]
Rent Control: A No-Win
In an otherwise excellent article on NIMBYism and luxury housing, affordable housing consultant Rick Jacobus writes: “economist Anthony Downs reviewed the published studies and found that while 'stringent' rent control imposed over a very long time had reduced private apartment construction in the … [Read more...]
Ending rent control may not lower prices for non-regulated units
That's one takeaway from a paper sent to me by one of its co-authors, Andy Garin, at MIT, on the effects of the end of rent control in Massachusetts in 1995 on property values in Cambridge. Fascinating topic, and much thanks to Andy for sending it to me – it's always nice when other people write my … [Read more...]
Trying to make a bad policy worse in NYC
In New York, lawmakers are currently debating a compromise between New York City and upstate interests to change the policies that shape residents' housing costs. New York City lawmakers are fighting for an extension and expansion of current rent control laws, while Governor Cuomo wants to tie this … [Read more...]
“The Joys of Staying Put,” or “The Joys of Rent Control”?
The New York Times is unusually good at ignoring economic forces at play in land use and transport markets, but I think this piece called "The Joys of Staying Put" by Constance Rosenblum takes the cake. Here's a quote: New Yorkers typically move a lot. Prompted by the arrival of a partner or a … [Read more...]
Links
1. A shameless story of rent control in NYC. Glad to see that the city is forcing developers to subsidize wealthy Manhattanites' Eat, Pray, Love-like dreams of moving to Paris.2. The travails of getting a bus lane on a busy LA street where "[m]ore people already travel by bus than by car along … [Read more...]
Links
1. Systemic Failure praises Gov. (again) Jerry Brown's efforts to do away with California's redevelopment agencies and "enterprise zones" (there's a euphemism if I've ever heard one), which the author claims promote autocentric development with public funds. He then cites a few examples of … [Read more...]