WHAT are the most dysfunctional parts of the global financial system? China’s banking industry, you might say, with its great wall of bad debts and state-sponsored cronyism. Or the euro zone’s taped-together single currency, which stretches across 19 different countries, each with its own debts and frail financial firms. Both are worrying. But if sheer size is your yardstick, nothing beats America’s housing market. — the Economist
It is the world’s largest asset class, worth $26 trillion, more than America’s stockmarket. The slab of mortgage debt lurking beneath it is the planet’s biggest concentration of financial risk. For more on the state of the US housing market, check out these links:What these...
Part of the challenge throughout California and plenty of other communities...is that we tend to make local policy — and housing policy in particular — as if the only people who matter in a community are the ones who go to bed there at night.
We don't think of people who work but don't "live" there, or who'd like to live there but can't afford to, or who once lived there but had to leave, or who could access better jobs if only they could move there, or who commute through there... — the Washington Post
You may effectively live your life within, say, San Francisco or Washington, D.C., going to school there, working there, dropping your children at day care there, spending your money and your waking time there. But if, at the end of the day, you go sleep somewhere else, you are invisible to the...
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...
To help ease California’s housing crisis, Gov. Jerry Brown and state lawmakers are turning to people’s backyards.
Multiple bills with the endorsement of Brown are moving through the Legislature to make it easier for homeowners to build small units on their properties, whether in their garages, as additions to existing homes or as new, freestanding structures.
[Mayor] Eric Garcetti and other supporters hope the relaxed rules will spur backyard home building to combat a housing shortage.. — Los Angeles Times
For more on Los Angeles' major housing crisis, check out these links:Los Angeles sues property owner who allegedly evicted tenants for Airbnb flipLA has a housing crisis – but the problem isn't those fancy new towersMeditating on the "Past Future Housing" of Los Angeles with Morgan Fisher and...
Facebook could be your next landlord. In an effort to drum up support for the controversial expansion of its headquarters, the social media giant is trying to give back to the community by building at least 1,500 housing units that can be rented by the general public—not just Facebook employees [...]
Facebook has pledged that 15 percent of the new units it creates will go to low- or middle-income families. — Gizmodo
...Which is great until you realize that 85 percent of the building will probably be ridiculously expensive and probably populated by local tech bros.For more on Silicon Valley urbanism, check out these links:Silicon Valley campuses at risk as sea levels riseMark Zuckerberg's resolution for...
Researchers from the University of British Columbia have suggested that modular construction techniques are key to assuaging cities' housing shortages.Associate engineering professor Kasun Hewage at UBC, along with PhD candidate Mohammad Kamali, conducted "the first comprehensive review of...
It’s not a new argument to say that cities are increasingly morphing from social configurations to investment vehicles. [...]
“Self-builds”, “Baugruppen”, and “zelfbouw” are just a few ways to define variations of building-it-yourself (BIY), whether done individually or as a collective. The end users (who are the commissioners), together with architects, decide on the design of their homes, and then take care of the construction themselves or have contractors do it. — failedarchitecture.com
Related stories on Archinect:It's the Culture, Stupid: curatorial statement for the International Architecture Biennale Rotterdam, from executive director George BrugmansReinhold Martin hosts contentious 'House Housing' panel, provoking discussion on inequality, real estate and architectureHalfway...
"House Housing; An Untimely History of Architecture and Real Estate", a globally touring exhibit, has finally arrived in its place of conception, New York City. After first appearing at the 2014 Venice Biennale, “House Housing” has popped up in Chicago, Berlin and Los Angeles. The exhibit...
The areas most likely to benefit from EU structural funding voted predominantly to leave [...]
With 12% of those working in construction migrants from the EU and with the construction industry already struggling to keep up with demand, any drop in skilled migrants will hit Britain’s ability to build. [...]
Analysts are already predicting a drop in supply of new homes, due to market volatility, predicted slowdown on skilled migration flows and share price drops for developers. — theguardian.com
Related on Archinect:RIBA release a statement following EU referendum resultArchitects react to shocking EU referendum resultTell us what does the EU referendum means to youSay no to a "Brexit," says David Chipperfield
"In most cities in Latin America, most of the building over last 50 years—depending on the city—40, 50, 60, 70 percent has been through incremental construction.” [...]
The majority of Aravena’s social housing work has also rested on the unique conditions and high level of investment from Chile’s social housing program. [...]
Isn’t asking the poor to shoulder more of the housing burden an inherently unfair proposition? — newrepublic.com
More discussion of Aravena's practice and impact can be found here:News coverage of Aravena's 2016 Venice Biennale"Making A Pritzker Laureate" – Martha Thorne, executive director of the Pritzker Architecture Prize, gives us an inside look at the prestigious award, on Archinect Sessions #48Watch...
Almost two-thirds of homes in the Tower, a 50-storey apartment complex in London, are in foreign ownership, with a quarter held through secretive offshore companies based in tax havens, a Guardian investigation has revealed.
The first residents of the landmark development arrived in October 2013, but many of the homes are barely occupied, with some residents saying they only use them for a fraction of the year. — The Guardian
The kind of wealth that turns a home into a status symbol—and an underused status symbol at that, with occupancy rates of only a few weeks a year—is not easing London's housing crisis. As the city's housing rates push actual citizens to decamp to cheaper suburbs or simply leave the area...
In just a few weeks, the residents of New York’s first micro-apartment building can move in to their new homes. And when they say micro, they mean it [...].
Spending extended amounts of time in a crowded space can be stressful; if the unit holds multiple people, the occupants – especially kids – can suffer as a result of the lack of privacy. And creative space-saving layouts, she explained, can become a source of mental fatigue. — nymag.com
“How can you morally and ethically justify in your own mind working on a project that would take people accustomed to living on the ground, of having their gardens, chickens, and their little animals in their yards, having space around them, having flowers, to live in these twenty-four...
In addition to housing for low- and moderate-income households, the mixed-use and mixed-income development will include a supermarket with healthy food options, a charter school, a medical facility, cultural and community spaces, a social services facility, and a rehabilitated playground that is currently closed. [...]
The 24-story building is expected to be the largest residential Passive House built in New York City and use 70% less energy than conventional buildings. — housingfinance.com
Related stories in the Archinect news:Michael Kimmelman on the state of affordable housing in NYCLessons learned: The complex realities when designing communal social housingThe Bronx’s once celebrated Lambert Houses face an unclear fate
Back in 2004, Elio Ciampanella was evicted from his apartment of three decades...So he applied for an apartment in Rome’s public housing. And he waited. More than a decade passed.
Then, in February, [Ciampanella] unexpectedly had his choice of several apartments. His tale might be considered one of patience rewarded, but there was a twist: It turned out Rome’s municipal government never really had a shortage of properties. — the New York Times
"Instead, the government actually owned so many thousands of apartments and buildings that no one was quite certain how many there were, who lived in them or where they were. That was, until staff members for Rome’s new interim administrator, Francesco Paolo Tronca, discovered nine boxes...
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