The housing crisis is multidimensional - from renters being bankrupted by landlords, to home-owners finding owning a house is (as the saying goes) a 'money pit'.
Here are another (albeit relatively small group) that have been skewered by regulatory change & (now) high interest rates - the mortgage prisoners.
The UK's mode of residential property has so many problems, you can hardly think anyone would invent such a system... but then you look at who benefits!
Housing good, parking mandates bad, more at 11. It's interesting to see the precise results of these reforms though. Removing the mandates is really more pro-flexibility than anti-car. The example of the development that would have been illegal under the old code not because it didn't provide parking, but because the parking was next door and technically on a separate lot, was particularly illuminating. https://www.sightline.org/2023/04/13/parking-reform-legalized-most-of-the-new-homes-in-buffalo-and-seattle/ #yimby#housing#FuckCars
“ One look at this chart should be sufficient to understand why the Great Crash of 1929 was both great, and a major cause of the Great Depression which followed it, and why levered speculation, rather than rational calculation, dominates the behaviour of asset markets.”
“ Therefore, credit is a major component of the demand for assets, and particularly for housing. We need a model of asset pricing that includes the role of debt. Given the growth in levered speculation on house prices over the last thirty years, this is especially needed to explain house price dynamics.”
Especially relevant to the US housing crisis. Post WWII, home loans were engineered to power the US economy from war footing.
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“ Treating the rates of change of and HQ as negligible, this implies that the rate of change of house prices is related to—and largely driven by—the acceleration of mortgage debt:”
Interesting, the acceleration in debt itself. Consider the Fed’s policy on interest rates.
Here is a direct relation of interest rates causing inflation.
@nytimes has a cool Buying vs Renting housing calculator.
Given how low my rent is in the Midwest, seems like renting is the smarter financial choice atm. But finances aren't everything. QOL is important too, though harder to quantify.
Good that Andy Burnham and others are talking about abolishing ‘right to buy’, the disastrous Thatcherite policy that continues to destroy so many lives.
Yet we need to go further and introduce ‘right to buy back.’ Any former council homes now being privately rented out should be buyable back by councils with the same percentage discount they were originally sold for.
✅ Predicting a cardiac arrhythmia 30 minutes before its onset
✅ #Gender inequalities in times of crisis
✅ An #OpenAccess book on scientific communication
✅ A powerful new approach against #cancer
✅ #Housing accessibility during periods of inflation
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If you take the population and divide by the rate of housing starts per year, you get a quantity in dimensions of time and units of years. This quantity roughly speaking is related to the "longevity of a dwelling" you need to have in order for the housing per person that's available not to decline. So if real longevity of houses is more or less a constant, then when this graph is high housing availability is declining, and when it's low it's growing... There's a reason millennials feel cheated
Dagnab it, I am constantly wishing I had more text in my messages and forgetting to tag stuff in my first post. This message is just to tag @economics@a.gup.pe and some hash tags #economics#housing#data#statistics
This discussion is about housing longevity and the adequate production rate of housing starts to keep housing from becoming scarce. There's a graph in the first post that shows very interesting dynamics.
At least two short-term let operators charge nearly £150 per night on Airbnb for flats in the new-build Dargavel scheme, beside Bishopton, Renfrewshire – where plans for 93 new council houses were scrapped last year.
Imagine if Republicans actually got on board with this awesome idea instead of painting it as the destruction of America like they undoubtedly will. Conservatives have lost their way and their minds, truly. https://www.threads.net/@potus/post/C607StBrwUy
Straight out of Midland, Michigan, USA--just when you think you've heard it all. In the news: "Woman found living inside a Michigan grocery store sign".
Quote from article: "A woman in Midland had a novel approach to living rent-free: post up in a sign above a grocery store and turn it into a makeshift apartment."
Wow. Is this late stage capitalism or what? Lower the damn rent!
“Michigan woman found living inside rooftop store sign with desk and coffee maker. The woman told police she had been living inside the grocery store sign for roughly a year, and had been able to get electricity”
The Good Law Project's legal campaign against Michael Gove’s new rules blocking energy-efficient homes will reach the High Court on 18 June.
Gove’s planning guidance undermines the power of local communities to build housing that tackles fuel poverty and the climate crisis.