Lenders often give special treatment to the wealthy, of course, but the tech industry has created a particularly ripe crop of clients who are rich or on their way. [...]
“Lenders get so caught up trying to stay competitive and finding a market edge, they basically allow greed to overcome common sense ... Easy money does fuel and accelerate the inevitable bubble.” — bloomberg.com
Related on Archinect:Facebook enters the housing market – and it's probably not a good thingGoogle acquires LinkedIn's HQ in huge, unexpected property swapWhat's the newest project for Silicon Valley investors? Building citiesSilicon Valley is set to get over 10K more housing units – is this...
my research shows that longtime residents aren’t more likely to move when their neighborhood gentrifies; sometimes they’re actually less likely to leave [...]
In a 2009 study, I found that gentrifying neighborhoods are more racially diverse than non-gentrifying ones. [...]
To be sure, market forces help change commerce in gentrifying neighborhoods. But often lurking behind the “invisible hand” are activists and policymakers who wish to nudge the market to produce certain outcomes. — washingtonpost.com
Lance Freeman's research at GSAPP focuses on issues related to gentrification, affordable housing, and race. Watch the Washington Post's video below, summing up the myths:Related on Archinect:A tale of two parks: debate rages over a new plan for a "Maker Park" in BrooklynA telltale sign of...
We’re growing faster than any other metropolitan area in the country, and we have been for the last five years...And the challenges are, with all the growth that we’re having, we’re going to stop being the city that we imagine that we are, that we remember being. We have to grow to be the city that we still recognize. So those challenges are not optional challenges for us to deal with, they’re the challenges for us to deal with. — Metropolis Magazine
As Austin rapidly becomes an "it" city, how will the city keep its character? Metropolis talks with Austin Mayor Steve Adler about the multiple challenges ahead.More on Archinect:Seven U.S. cities competing to be the "smartest" in urban transit systemsGuns in the Studio: Texas' new campus carry...
when media outlets report cost of materials as being some $13,000, I want to know what was donated in terms of materials, too. Were permit fees waived? There are many times when you need a licensed architect or engineer for certain permits, and that’s not likely in these totals.
It is completely fine to get around having to do that stuff, but it’s not truthful to report the results without the real numbers as a part of the story. These kinds of things get shared around... — Jordan Pollard – metropolismag.com
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New York City once set the standard for subsidized housing. The city started out building and maintaining tens of thousands of apartments for working families, sponsoring job training and social programs. It ran a budget surplus. [...] Now the Village is like a gated playground for runaway wealth. Subsidized apartments all across town are converting to market-rate rentals and condos faster than City Hall can build affordable units or preserve old ones. — nytimes.com
But if L.A. is going to remain a creative capital, its civic and cultural leaders are going to need to do more than offer really great talk about how great we are...This can start with the Otis Report on the Creative Economy...If this report is to be more than just a feel-good data dump, it could use some solid recommendations on how L.A. compares to other cities culturally and how we might improve the situation for artists and cultural organizations, both small and large. — Los Angeles Times
More about arts districts on Archinect:Venice Beach's ongoing grapple with the tech titan invasionDowntown LA's vision of an architecture and design super clusterHow one urban planner is helping revamp a Miami suburb "without gentrification"With a little compromise, illegal urban squats like...
Americans living in rentals spent almost a third of their incomes on housing in the second quarter, the highest share in recent history. Rental affordability has steadily worsened, according to a new report from Zillow, which tracked data going back to 1979...While mortgages remain relatively affordable, landlords have been able to increase rents because demand for apartments remains strong. The U.S. homeownership rate fell to the lowest level in almost five decades in the second quarter. — Bloomberg
More on Archinect:Shipping container village crops up in Oakland, offering alternative to sky-high SF rents500 Square Feet and FallingPlay "Inside the rent", and become a virtual developer in NYCMonterey Park City Council adopts tougher penalties for landlords of illegal boarding homesL.A.'s...
Melbourne is now a more expensive place to live than New York. The increasing cost of living, and in particular, the cost of housing risks seriously undermining the city’s liveability.
Plan Melbourne, the new metropolitan strategy for the city, recognises that housing affordability is one of the pressing issues facing Melburnians. The strategy offers a set of concepts aimed at shaping the city’s future and – the government hopes – addressing housing affordability and choice. — thisbigcity.net
We cannot rely on visionaries and authoritarians to generate more, and better, housing. They might deliver, with enormous risk and perseverance, through personal connections and their willingness to invest their own equity or to defer their developers’ fee, as BHC has done. But visionaries and authoritarians are few and far between. Rather, we need to formalize ways of rethinking and requantifying net-to-gross, studio-to-three-bedrooms, block-and-plank formulas. — urbanomnibus.net
The study from UCLA's Ziman Center for Real Estate shows that the average renter in Los Angeles, which has the highest percentage of renters in the country, devotes 47 percent of his or her paycheck to rent. [...]
It's the latest depressing news about L.A.'s rental market, and it comes with a twist: affordability is not a new post-recession problem, but one that has been getting worse for decades.
“Our studies show a severe housing burden among poor renters has existed since 1970 — scpr.org
Cars offer more than just convenience: they can give lower income Americans an economic leg up. [...]
While tracking households that had participated in two federal housing voucher programs, [a study] found that car owners were twice as likely as transit users to find jobs and four times likelier to retain them. Car-owning households were also able to locate near better neighborhoods and schools. This reaffirmed previous work ... arguing that car ownership plants the seeds for upward mobility. — thedailybeast.com
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