The most interesting comment to my last post focused on one narrow issue: to what extent are vacant housing units second homes (and thus presumably less likely to be rented out) as opposed to units for rent/sale or held for other unknown reasons?Why does this matter? Because one might argue … [Read more...]
The “Empty House” Theory
One common argument against new urban housing runs as follows: "If we build new housing, it will all be bought up by rich investors who will sit on it. So new supply doesn't restrain housing costs." This argument (at least as I have phrased it) strikes me as absurd. Here's why: for the argument … [Read more...]
Rent Control Again
A blog post in Pacific Standard seeks to defend rent control- an idea that, as the author admits, is generally detested by economists.The author writes that "rent regulations give tenants a greater stake in their community and incentivize them to put time, energy, and even money into their … [Read more...]
An Attack on Market Urbanism
The far-left "TruthOut" web page recently published an attack on YIMBYs,* describing them as an "Alt-Right" group (despite the fact that the Obama Administration is pro-YIMBY). I was surprised how little substance there was to the article; most of it was various ad-hominem attacks on YIMBY … [Read more...]
The “Foreign Buyers” Argument
A common argument against new housing supply is that in high-cost cities such as New York, demand from foreign buyers is so overwhelming as to make new supply irrelevant. A recent study (available here) by two business school professors suggests otherwise. The study does show more foreign … [Read more...]
My New Book On Market Urbanism
I am happy to announce that my new book "Government Intervention and Suburban Sprawl: The Case for Market Urbanism" is now available at Amazon. There is a "look inside the book" feature at the book's Amazon webpage for those who would like to know more.I would like to thank not just the readers … [Read more...]
Kotkin And The Atlantic- Spreading ‘Localism’ Nonsense Together
The Atlantic Magazine's Citylab web page ran an interview with Joel Kotkin today. Kotkin seems to think we need more of something called "localism", stating: "Growth of state control has become pretty extreme in California, and I think we’re going to see more of that in the country in general, … [Read more...]
Collective Action Problems Are Similar For Land Use And Schools
I just read a law review article complaining that some white areas in integrated southern counties were trying to secede from integrated school systems (thus ensuring that the countywide systems become almost all-black while the seceding areas get to have white schools), and it occurred to me that … [Read more...]