Richard Florida writes that Canadians great love for homebuying (with a greater home ownership rate than even the U.S.) could be economically instable.
While Florida agrees that homeowners are good for communities, the tying up of all those Canadian dollars in homes means a lack of investment in other markets.
He writes, "A study by the Federal Reserve Bank of Dallas in 1998, well before the boom and bust, found the U.S. had over-invested in housing relative to other forms of capital since 1929. It has drained off capital from productivity improvement, innovation, medical technology, software or alternative energy: sectors that could drive growth well into the future.
Here as well, housing sucks up a huge share of national capital that should go to support innovation and new industries."
FULL STORY: Housebound: why owning a home can be bad for Canada
Zillow's 'iBuying' Algorithms Overpaid For Homes
After investing more than $1 billion in buying homes over the last few years, Zillow has ended its 'iBuying' experiment as anticipated profits fail to materialize.
Study: Half as Many Metro Areas Affordable to Low-Income Homebuyers in 2021 as in 2020
Over 13 million potential first-time homebuyers were priced out this year, putting homeownership out of reach for low-income households in most of the largest U.S. cities.
Million-Dollar Homes Becoming Standard Fare Across Los Angeles
As households with means seek to escape crowded apartment buildings and take advantage of historically low mortgage rates, average home prices of over $1 million are proliferating across the LA region.
The Top Urban Planning Books of 2021
Planetizen's annual list of the top urban planning books of the year is here—maintaining a tradition that dates back to 2002.
The Roadway Expansion Paradox
Motorists want expensive roadway expansions provided that somebody else foots the bill, but when required to pay directly through tolls, the need for more capacity often disappears. What should planners do?
Urban Exodus: Data Don't Support the Popular Pandemic Narrative
Americans fled cities in waves during the pandemic, right? Not to so fast.
Flight-Free Movement Grows in Europe
A burgeoning movement known as 'flight shame' calls on travelers to avoid air travel when possible as a method of fighting climate change.
Opinion: Northwest Arkansas Could Be the 'Next Austin'
The home of Walmart and the University of Arkansas could be poised to see growth as cities like Austin and Boise become less affordable.
Contentious Houston Freeway Widening Project Inches Forward
Federal officials have given TxDOT the go-ahead to resume work on a small portion of a controversial interstate widening project in downtown Houston.
Town of Palm Beach
Perkins&Will
City of Oxford
HUD's Office of Policy Development and Research
HUD's Office of Policy Development and Research
City of San Carlos
HUD's Office of Policy Development and Research
City of Royal Oak, Michigan
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.
Hand Drawing Master Plans
This course aims to provide an introduction into Urban Design Sketching focused on how to hand draw master plans using a mix of colored markers.
