Household formations and the tight mortgage market are one thing, but a recent article on Vox examines the role of zoning—and the NIMBYs that control it—in the housing market's stagnating influence on the national economy.
Following on Neil Irwin's recent article in the New York Times' Upshot about the stagnant real estate market, Matthew Yglesias examines data about how strict regulation of the housing market is contributing to the sluggish market.
To explain "why housing is so depressed," Yglesias believes that Irwin neglects to mention zoning while discussing household formation and the mortgage market:
"The reason residential construction is so depressed nationally is that most of the markets with strong housing demand make it extremely difficult, as a regulatory matter, to add additional housing units."
Moreover: "If it's profitable to build this many houses in Houston, it should be profitable to build even more houses in San Francisco — San Francisco is richer, San Francisco has more expensive housing, and San Francisco has better weather. But San Francisco isn't growing as fast as Houston. It's not even close. That's the power of regulation. Not just in the city, but in the surrounding suburbs. Not just in the Bay Area but in liberal metro areas on both coasts."
FULL STORY: NIMBYs are killing the national economy
The Rise of Zoning Reform
As the housing affordability crisis spread from mainly coastal cities to the rest of the nation, cities and states are taking a serious look at outdated zoning codes that hamper efforts to build more housing.
U.S. Home Sales to Foreign Buyers Drop by Almost 10 Percent
International purchases of homes on the U.S. housing market slowed in the last year.
New Research Blames Affluent Suburbs for Housing Crisis
Small, often wealthy enclaves build far less multifamily housing than their larger counterparts, exacerbating the dearth of affordable housing near big cities and job centers.
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
Planning for Accessibility: Proximity is More Important than Mobility
Accessibility-based planning minimizes the distance that people must travel to reach desired services and activities. Measured this way, increased density can provide more total benefits than increased speeds.
Fair Housing Cannot Take a Back Seat to ‘Build, Baby, Build’
If we overlook fair housing principles in the plan to build US housing back better, we risk ending up right back where we started.
LA Metro Board Approves New 710 Freeway Plan
The newest plan for the 710 corridor claims it will not displace any residents.
Austin’s Proposed EV Charging Rules Regulate Station Locations, Size
City planners say the new rules would ensure an efficient distribution of charging infrastructure across the city and prevent an overconcentration in residential areas.
Making California State Parks More Climate-Resilient
A recently released report offers recommendations for keeping state parks healthy and robust, including acquiring additional land for conservation and recreation.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
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