Tight housing inventories, rising prices, and conservative mortgage lenders are preventing many would-be homeowners from buying their piece of the 'American Dream'. Michelle Higgins explains why this may actually be a good thing.
"A growing body of research suggests that spending money on real estate doesn’t necessarily mean investing in contentment," writes Higgins. "Indeed, the conventional advice to cut back on vacations, restaurant meals and other extras in order to save money for a home may actually be detrimental to felicity. Experts in happiness — an increasingly popular field focused on the scientific understanding of emotional well-being — say that people are happier when they spend money on experiences instead of material goods, whether it be a new car or a bigger apartment."
“People still view housing as a central component of happiness and a critical aspect of the American dream,” said Elizabeth Dunn, an associate professor of psychology at the University of British Columbia. “But there is little research to support that.”
FULL STORY: Homeownership, the Key to Happiness?
Homeownership—American Dream or Nightmare?
Owning a home has long been considered the ultimate aspiration. But social and economic realities mean the stories about and the path to homeownership are not simple and straightforward.
What If We Stopped Considering Housing an Investment?
If Americans viewed housing as what it essentially is, a consumable good, solutions to our ongoing affordability crisis might just present themselves. And we'd probably loosen a lot of land use regulations.
As Homeownership Slips, So Do Expectations
For an "entitled generation," Millennials feel less and less entitled to one of the hallmarks of the American Dream: homeownership. But that doesn't mean the goal is permanently out of reach.
The Slow Death of Ride Sharing
From the beginning, TNCs like Lyft and Uber touted shared rides as their key product. Now, Lyft is ending the practice.
In Most U.S. Cities, Archaic Laws Limit Roommate Living
Critics argue laws preventing unrelated adults from living in the same home fail to understand the modern American household.
Ten Signs of a Resurgent Downtown
In GeekWire, Chuck Wolfe continues his exploration of a holistic and practical approach to post-pandemic urban center recovery, anchored in local context and community-driven initiatives that promote livability, safety, and sustainability.
Few Landlords Pay San Francisco Vacancy Tax
Less than 3 percent of properties potentially subject to a new vacancy tax were filed as vacant in the last year, but empty storefronts in the city persist.
In Spite of Affordability Crisis, Richmond Rejects Manufactured Housing Plan
After declaring a housing crisis, the Virginia capital’s city council voted against a proposed manufactured home warehouse that would distribute replacements for aging manufactured housing stock.
A Planning Commission Podcast Journey: The 1,000 Joys of Planning
The Commissioners explore the facets of the planning profession that fill their cups with joy.
San Francisco Municipal Transportation Agency
City of Orange
City of Charlotte - Charlotte Area Transit
HUD's Office of Policy Development and Research
HUD's Office of Policy Development and Research
HUD's Office of Policy Development and Research
Montrose County
Wichita-Sedgwick County Metropolitan Area Planning Department
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.
