According to this report, the trends point to a "less diverse, older, higher-income" crop of homebuyers as low production locks out the young and many people of color.
Research conducted by U.C. Berkeley's Terner Center for Housing Innovation "concludes that, increasingly, homebuying is becoming a privilege within the purview of only a few wealthy classes of Americans," Adam Brinklow writes.
Although that trend is most pronounced in the Bay Area and other coastal urban markets, "home prices are up more than 25 percent nationwide after inflation compared to 2000, with housing significantly less affordable in almost every major metro area."
Notably, the housing crisis is taking its toll on young and black homebuyers. "The rate of new homebuyers who are black declined from 8.5 percent in 2000 to 6.6 percent 16 years later. And the number of homebuyers under 35 crashed from 36 percent to 31.6 percent."
The report suggests that changes to the supply side of the housing equation could do much to boost ownership among younger and lower-income buyers.
FULL STORY: Young and black communities can’t afford homes because cities won’t build enough
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Black home buyers face an array of challenges when trying to buy homes, leading to a widening gap between Black and white homeowners.
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Next City's Jared Brey reviews a year of developments in housing politics and policy, teasing out several big trends.
New York Governor Advances Housing Plan Amid Stiff Suburban Opposition
Governor Kathy Hochul’s ambitious proposal to create more housing has once again run into a brick wall of opposition in New York’s enormous suburbs, especially on Long Island. This year, however, the wall may have some cracks.
Rethinking the Role of Parking in the American City
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Proposed Pool Would Make an Olympic-Sized Play Area in the San Francisco Bay
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Chicagoland Transit Agencies Call for State Funding as Budget Shortfall Looms
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Panel: Minneapolis Zoning Updates Should Reflect Mixed-Use Future
A discussion of post-pandemic changes in work and commuting concluded that the city’s overhaul of its zoning code should be less restrictive with land uses.
Princeton Planning
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Houston-Galveston Area Council
HUD's Office of Policy Development and Research
HUD's Office of Policy Development and Research
HUD's Office of Policy Development and Research
City of Spearfish
City of Lomita
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
