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?
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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.
Maui's Vacation Rental Debate Turns Ugly
Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
San Francisco Suspends Traffic Calming Amidst Record Deaths
Citing “a challenging fiscal landscape,” the city will cease the program on the heels of 42 traffic deaths, including 24 pedestrians.
Adaptive Reuse Will Create Housing in a Suburban Texas Strip Mall
A developer is reimagining a strip mall property as a mixed-use complex with housing and retail.
Study: Anti-Homelessness Laws Don’t Work
Research shows that punitive measures that criminalized unhoused people don’t help reduce homelessness.
In U.S., Urban Gondolas Face Uphill Battle
Cities in Latin America and Europe have embraced aerial transitways — AKA gondolas — as sustainable, convenient urban transport, especially in tricky geographies. American cities have yet to catch up.
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JM Goldson LLC
Custer County Colorado
City of Camden Redevelopment Agency
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Transportation Research & Education Center (TREC) at Portland State University
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