If housing prices were tracked like the stock market, urban cores would be soaring to new highs.
Joe Cortright describes the findings of a study by the investment ratings company Fitch as the most underreported news of the week, and possibly the year, for urbanists. "Here’s the simple number," writes Cortright, "since 2000, home prices in city centers have outperformed those in suburbs by 50 percent."
"If you care about cities, and you’re looking for definitive evidence of the verdict of the market on urbanism—this is it," he adds. But Cortright is also willing to admit that an analogy might be necessary to bring home the importance of this data to armchair enthusiasts, casual observers, or even the indifferent.
His analogy: the stock market.
Image a CNN business reporter saying:
'In the market today, city centers were up strongly to a new high'
Or a Wall Street Journal headline
'A bull market for city centers'
This article includes more about that analogy and the story it relates. An earlier blog, also by Cortright, broke the news of the new data and also looks into the causes of the trend.
FULL STORY: The Dow of Cities
Price Cuts Spread to More of the U.S. Housing Market
The insanity of the housing market during the pandemic seems to have peaked in an increasing number of U.S. cities, according to recent data.
The Consequences of 'Runaway' Housing Prices
There's been no shortage of discussion and debate about what's causing the price of homes in the United States to skyrocket at record rates, but less discussion of the consequences for housing market trends on the broader economy.
U.S. Housing Prices Continue Record-Breaking Pace
July marked four straight months of record-breaking increases for housing prices nationwide, according to the latest housing market data.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
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.
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.
Amtrak Rolls Out New Orleans to Alabama “Mardi Gras” Train
The new service will operate morning and evening departures between Mobile and New Orleans.
The Subversive Car-Free Guide to Trump's Great American Road Trip
Car-free ways to access Chicagoland’s best tourist attractions.
San Antonio and Austin are Fusing Into one Massive Megaregion
The region spanning the two central Texas cities is growing fast, posing challenges for local infrastructure and water supplies.
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.
Heyer Gruel & Associates PA
JM Goldson LLC
Custer County Colorado
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Jefferson Parish Government
Camden Redevelopment Agency
City of Claremont