11–20 of 189 posts
If you want to make housing affordable you will need to reckon with this: http://positivemoney.org/wp-content/uploads/2013/04/UK-House... House prices move with mortgage credit growth. Credit growth is one of the key pillars of the politically sustained Ponzi-scheme that is the modern urban housing market.
In Japan, zoning is handled federally; and the result is much more affordable cities. "Why Tokyo is the land of rising home construction but not prices" https://www.ft.com/content/023562e2-54a6-11e6-befd-2fc0c26b3... An overview of zoning practices there: http://urbankchoze.blogspot.com/2014/04/japanese-zoning.html
I feel like this is the case for a lot of the differences between the US and other countries. Unfortunately, it's not as simple as "just make the Federal government do it for everyone". The constitution limits the authority of what the Federal government can do in the US and delegates everything else to state and local governments.
Seems like it could work. Nonsense local policies to encourage "affordable" housing like inclusionary zoning have been huge failures. In big cities, we just need way more housing. Yet NIMBYs fight it at every step, esp in SF.
In Madison Wisconsin there were, for a long time, policies that tended to discourage building on the main east-side thoroughfare. Over time, no one really remembered why those policies, some of which one might construe as "inclusionary zoning", were in place. So we jumped on the urban development bandwagon. We were "All In" on it. I mean getting rid of older policies, introducing things like TIF for that very east side corridor, the whole nine yards. Fast forward to today, and there are buildings built down that corridor with giant footprints. And some people even think they are beautiful. So we congratulated ourselves.
Then something strange started to happen. Whenever it rained, that very corridor would flood. Odd? It never did that before? Well, we never built like that down that corridor before. Not to worry. The flooding wasn't really that bad. But it's gotten worse and worse. And only now are people starting to realize why those old guys back before and during the Greatest Generation wanted to discourage building anything critical there. Long story short, we're a city situated on a system of five lakes, we can't just look at what everyone else in the nation does and copy them. We need to follow a plan that makes sense for our geography. We need policies that make sense for us, even if on the surface, those policies appear to hamstring us economically.
I'm sure Madison is not special in this regard. It's likely most cities have some feature endemic to them that would similarly constrain where and how a wise man would build in that municipality. Like us, most cities have probably even forgotten the why of their constraints. I sympathize. But just as a piece of kindly intended advice from a people who have "been there, done that, currently trying to clean up the mess"...
don't look at old policies and say they're "outdated", or "nonsense"...
look at old policies and ask, "OK, what was the reason for this?"
Seems like it could work. Nonsense local policies to encourage "affordable" housing like inclusionary zoning have been huge failures. In big cities, we just need way more housing. Yet NIMBYs fight it at every step, esp in SF.
In Japan, zoning is handled federally; and the result is much more affordable cities. "Why Tokyo is the land of rising home construction but not prices" https://www.ft.com/content/023562e2-54a6-11e6-befd-2fc0c26b3... An overview of zoning practices there: http://urbankchoze.blogspot.com/2014/04/japanese-zoning.html
I feel like this is the case for a lot of the differences between the US and other countries. Unfortunately, it's not as simple as "just make the Federal government do it for everyone". The constitution limits the authority of what the Federal government can do in the US and delegates everything else to state and local governments.
The charts at the top are eye opening. More and more of our income is going to pay for pieces of land. Unlike computers, TVs, and even troublesome areas like healthcare the land is not getting better and better. It’s instead a purely zero sum game. We probably can’t eliminate the scourge of land rents altogether but we can stop making the problem worse by putting in place more and more policies designed to raise hous…
Because we can make more computers, execute more healthcare services, etc. Land is a zero sum game; we have a fixed amount, and while it's possible to create more, it's prohibitively expensive to do so. Add to it, land is the primary method by which "old money" remains in that category.
In Japan, zoning is handled federally; and the result is much more affordable cities. "Why Tokyo is the land of rising home construction but not prices" https://www.ft.com/content/023562e2-54a6-11e6-befd-2fc0c26b3... An overview of zoning practices there: http://urbankchoze.blogspot.com/2014/04/japanese-zoning.html
Seems like it could work. Nonsense local policies to encourage "affordable" housing like inclusionary zoning have been huge failures. In big cities, we just need way more housing. Yet NIMBYs fight it at every step, esp in SF.
You can’t just add in “moar housing” in a vacuum and declare mission accomplished. Let’s say SF doubled its housing. Where are all these new residents going to park? So, now it’s housing and parking that needs to be fixed. Assume none of these new residents have cars? Ok now it’s housing and public transit that needs to be fixed. Where are their kids going to go to school? So we need more school capacity, too. How mu…
In Japan, zoning is handled federally; and the result is much more affordable cities. "Why Tokyo is the land of rising home construction but not prices" https://www.ft.com/content/023562e2-54a6-11e6-befd-2fc0c26b3... An overview of zoning practices there: http://urbankchoze.blogspot.com/2014/04/japanese-zoning.html
Also, Japan is NIMBY at the national level, as in "not on my island". For instance, accepting few refugees.
Smart in other ways, not just the zoning, you see. They protect their culture.
If you want to make housing affordable you will need to reckon with this: http://positivemoney.org/wp-content/uploads/2013/04/UK-House... House prices move with mortgage credit growth. Credit growth is one of the key pillars of the politically sustained Ponzi-scheme that is the modern urban housing market.