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.

Homeownership is considered a basic component of the American Dream, but shelter is also a basic necessity. "Rising milk prices are regarded as a household tragedy for some, and spiking gas prices stoke national outrage. But whenever home prices go up, it's 'a recovery,' even though that recovery also means millions of people can no longer afford to buy."
If we didn't consider homes an investment, Conor Dougherty writes, "People might expect home prices to go down instead of up. Homebuilders would probably spend more time talking about technology and design than financing options. Politicians might start talking about their plans to lower home prices further, as they often do with fuel prices."
The piece draws from several studies, including one that finds "a standard American home should cost around $200,000, a figure that includes the cost of construction, what land would cost in a lightly regulated market, and a modest profit for developers." Another quotes the economic loss from local land use regulations at $1.5 trillion.
It may be a pipe dream, but a nationwide "rethink" around housing might also mean an end to all these bubbles. "Housing is particularly prone to bubbles because, in contrast with other products, we seem to want it more when it is expensive and less when it is cheap."
FULL STORY: Why Falling Home Prices Could Be a Good Thing

Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Canada vs. Kamala: Whose Liberal Housing Platform Comes Out on Top?
As Canada votes for a new Prime Minister, what can America learn from the leading liberal candidate of its neighbor to the north?

Washington State’s Parking Reform Law Could Unlock ‘Countless’ Acres for New Housing
A law that limits how much parking cities can require for residential amd commercial developments could lead to a construction boom.

Wildlife Rebounds After the Eaton Fire
Following the devastation of the Eaton Fire, the return of wildlife and the regrowth of native plants are offering powerful signs of resilience and renewal.

LA to Replace Inglewood Light Rail Project With Bus Shuttles
LA Metro says the change is in response to community engagement and that the new design will be ready before the 2028 Olympic Games.
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