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
Pennsylvania Housing Action Plan Calls for $1B Fund, Expanded Renter Protections, Homebuyer Assistance
Gov. Shapiro’s proposed plan would bolster support for renters and homebuyers and reduce barriers to housing development.
Just 5% of Idaho Homes Affordable to Middle-Income Households
Idaho is in the top six least affordable states for the middle income bracket.
Report: Just 7 Percent of Homes for Sale Affordable to Black Households
The affordability crisis continues to impact American households across the board, with 16 percent of listings affordable to the average household.
The state-sanctioned urbicide of Austin
People don’t kill cities. Freeways do.
US to reduce Colorado River water deliveries to Mexico
A new Colorado Treaty amendment reduces Mexico’s Colorado River water allocation by 250,000 acre feet.
New Jersey’s second-largest city bans standalone data centers
Jersey City will continue to allow co-location facilities, such as those meant for research institutions that store their own data.
Amtrak not solely to blame for New Jersey commuter rail's unreliability, report finds
A new study from the Garden State Initiative found that NJ Transit’s budget grew 20% across a 4 year period, but reliability declined significantly over the same period.
EPA erases limits on planet-warming pollution from power plants
Under Monday’s plan, power plants would still have some limits on how much mercury, arsenic and other contaminants they can emit.
Phoenix announces new on-demand transit service, more frequent RAPID buses
Both new services will launch in October, and are part of Phoenix's Project Effective Access Solutions for Easing Congestion.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
Eagle County Government
Harvard University Graduate School of Design
Nashville Planning Department
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello
Journal of the American Planning Association