Here I'll show you how to read this darn thing, giving you the necessary background knowledge to know what's up. I'm going to take you around the country as we explore the in's and out's of city's urban housing policy - from SF to NY, and everywhere in between, so buckle the $*#@ up!
A Primer on Housing Affordability Policy
Over the last half century, beginning with the post-WWII economic boom, cities have grown to enormous size and scope. According to the University of Michigan Center for Sustainable Systems, 89% of Americans are projected to live in urban areas by the year 2050. It makes sense: cities are home to many more jobs and opportunities, cultural landmarks, outings, sports stadiums, restaurants, and so on. But there is one crucial ingredient missing from most cities: a robust set of policies to minimize the cost of housing.
While I will try my best to avoid coming across as a policy wonk, this phenomenon of rising housing costs can only truly be illustrated with a graph.
Even in 2008, at the height of the Great Recession when millions of American families lost their homes, the median home price didn't come close to income. This is a crisis. And one that has yet to receive the attention it deserves.
In the now-concluded Democratic primary, the 20+ candidates spent all of ten minutes in the November debates to discuss this issue. Most Americans don't even know there is a federal housing department. And it has been years since the last time Congress passed meaningful reforms to housing regulations. In fact, since the Democrats won the House majority in the 2018 midterms, a number of bills have been introduced and/or
The facts are clear: Congress has abdicated its responsibility, and the states are tying to catch up. Sound familiar? Americans across the country are making these same observations about the federal government's response to COVID-19. In lieu of a nation-wide standard set by the President, Governors are stepping up to enact their own policies to combat the deadly disease, creating a patchwork of competing legal frameworks. This is a perfect analogy to the federal housing department's woefully inadequate response to the housing affordability crisis sweeping the nation.
Despite this, only the federal government has access to the capital and power to make sweeping reforms to housing. In July of last year, the New York Times ran the headline, "Only Washington Can Solve the Nation's Housing Crisis." It is vital that Congress and the President create a cogent plan for addressing this very important issue, and I am cautiously optimistic that they will.
This Blog: Follow Where your Mind Wanders
Following along with this blog is fairly straight-forward. Each post focuses on the housing affordability policies of a different city. With the exception of this post, you don't need to read in any particular order. Just follow where your mind wanders. Perhaps an entry is about your home town - that would be an excellent place to start. You may have just read an Op-Ed in the New York Times about housing policy in NYC - then start there. Or you're just curious about one city in particular - then I think you know the drill.