housing affordability
Ranking Housing Affordability in America
Nate Berg reports on information compiled in the 8th Annual Demographia International Housing Affordability Survey, and asks to what extent the affordability of housing is tied to land use policies and how much is related to other factors.
Parking Minimums Make Housing More Expensive
A new report from NYU's Furman Center for Real Estate and Urban Policy reveals that the parking minimums required for new developments are a significant part of why housing in New York is so expensive.
New Housing/Mobility Measurement For Affordability Is 45%
The housing affordability rule of thumb is that you should not pay more that 30% of your income in rent or mortgage payment. Yet that ratio doesn't include the transportation costs that vary by community. What would it be if it was included?
A Blunt Tool
How can one measure the housing affordability of a city or region? One common option is to focus on a region’s median home price (or the median home price divided by median income). I’ve used this method myself, and regional medians will often be the best tool available. But sometimes, this method leads to absurd results. For example, the median home price for metropolitan Atlanta is $150,000, which makes Atlanta seem like a remarkably affordable housing market.(1)
How Affordable is Your City?
CNN ranks 10 American cities according to housing affordability, and finds that foreclosures, median incomes and the availability of developable land all influencing housing affordability.
Planning Foreclosures
As the economy continues to lumber through the most protracted period of recession since the early 1980s, the financial sector has received the brunt of the blame. It’s been easy for the planning profession to distance themselves from what seem at first to be macroeconomic trends. That view, however, is becoming increasingly difficult to uphold.
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