Georgists assert that a Land Value Tax (LVT) ensures land is always put to its most efficient use. They claim that increased carrying costs deter speculation. And if valuable land is never held out of use, society is better off.I think the story about incentives is correct. But I question … [Read more...]
Entrepreneurs and the Changing Political Economy of Housing
Discussions about land use reform focus on policy – as they should. Overcoming NIMBYism will require deep legal, political, and regulatory reform. That said, entrepreneurs may be helping to short circuit the perverse incentives that give rise to NIMBYism in the first place. New companies may be … [Read more...]
Reasons to be a Census skeptic
Over the past week, the press was chock full of 2020-style headlines like "Census Bureau Confirms Pandemic Exodus from SF." That's because according to the Census Bureau, virtually every urban county in the U.S. (even urban counties in growing metros like Dallas and Atlanta) lost population between … [Read more...]
Are there places in America with diversity *and* equality?
The relationship between blacks and whites in the residential subdivisions out beyond the suburban ring suggests that middle-class people of both races recognize each other as equals. Among middleclass Americans, at least in the special circumstances of these Pennsylvania communities and others like … [Read more...]
California should indeed build new cities – but don’t let Nathan J. Robinson anywhere near them
Urbanist and YIMBY Twitter had a field day dunking on Nathan J. Robinson, whose essay in his publication Current Affairs (yesterday's tagline: "the one thing left that isn't disappointing") called for building new cities in California.The essay was a typical of the "anti-anti-NIMBY" genre: he … [Read more...]
Where investors invest
One argument I have run across recently is that the high cost of housing is caused by mysterious corporate investors are buying up real estate and forcing up the cost.The stupidest version of this argument is that investors are hoarding all the real estate. Why is it stupid? Because … [Read more...]
The “outer boroughs” myth
One argument against bus lanes, bicycle lanes, congestion pricing, elimination of minimum parking requirements, or indeed almost any transportation improvement that gets in the way of high-speed automobile traffic is that such changes to the status quo might make sense in the Upper West Side, but … [Read more...]
Book review: Last Harvest
In the standard urban growth model, a circular city lies in a featureless agricultural plain. When the price of land at the edge of the city rises above the value of agricultural land, “land conversion” occurs. In the real world, we’re more likely to call it “development” and it is, of course, a lot … [Read more...]