A Single Solution for New York’s Two Biggest Problems
And then there is displacement, fear of which looms large in the local imagination. As New York City has grown more desirable, it has experienced net population growth. While large [...]
Rents Are Falling Fast in Some NYC Boroughs
Here’s some good news for New York City apartment-hunters: Manhattan rents dropped 3.8 percent in March from a year earlier, the most since 2011.The news is even better for tenants [...]
Is there a Bubble in the Housing Market?
Home prices in regions with inelastic supply should be expected to rise more rapidly in response to growing demand than prices in regions with elastic supply. And it seems quite [...]
Growth Management and Land Use Controls: The San Francisco Bay Area Experience
Local land use and growth controls have had a substantial negative impact on the San Francisco Bay Area housing market. These regulations have significantly diminished the availability of development opportunities [...]
The Exclusionary Effect of “Mansionization”: Area Variances Undermine Efforts to Achieve Housing Affordability
Home ownership near the workplace has become unattainable for many working Americans. Despite the overall increase in national home-ownership rates, according to the Urban Land Institute, "[a] rapid population rise [...]
The Economic Implications of Housing Supply
In this essay, we review the basic economics of housing supply and the functioning of US housing markets to better understand the distribution of home prices, household wealth, and the [...]
California’s Density Deficit and the Likely Impact of SB 827
Among the 15 American metropolitan areas with the fastest growth in demand for housing since 2012, 5 are in California. Those 5 California metros grew more slowly than all 10 [...]
The Impact of Age on the Value of Historic Homes in a Nationally Recognized Historic District
This paper uses hedonic modeling to test the effects of age, both actual and effective, on the value of historic properties within a nationally recognized historic district. Findings show that [...]
Historic Designation and Residential Property Values
The State of California enacted the Mills Act in 1972. This act allows local municipalities the option of setting up a historic designation program. The main feature of the program [...]
The Impact of Age on the Value of Historic Homes in a Nationally Recognized Historic District
This paper uses hedonic modeling to test the effects of age, both actual and effective, on the value of historic properties within a nationally recognized historic district. Findings show that [...]