The McMansion style, built between 2001 and 2007 and averaging 3,000 to 5,000 square feet, lacks the appeal with today's buyers compared to old vintage homes or large freshly built homes.
The realization is especially hard on homeowners trying to sell because when they bought the giant homes in the early 2000s, they thought of them as great investments, Feinstein said.
Then, the idea was that bigger was better because prices presumably would keep going up. — Chicago Tribune
London’s traditional elite, such as lawyers, architects and academics, are being pushed out of their enclaves in Mayfair, Chelsea and Hampstead by an influx of global super rich investors, causing a chain reaction of gentrification across the capital, according to research by the London School of Economics.
An influx of ultra-high-net worth overseas buyers is leading the old elite to sell up and move from London’s most exclusive postcodes and buy in areas they previously considered undesirable — the Guardian
Most Londoners think tall buildings should only be built in areas like the City and Canary Wharf, and that there should be limits on how high they can be, according to a survey for the Skyline Campaign published today. The findings come after Westminster Council controversially gave the green light for a 30 storey tower to be built in Paddington, and show stark differences in the views of Londoners in the inner and outer boroughs... — Ipsos Mori
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
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
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
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
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
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
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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
"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
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
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