The damage from the housing crisis — a toxic combination of frenzied buying, rampant construction, predatory lending and investment excess — was extensive. Of the 23,000 single-family homes in the 89031 ZIP code, more than 7,500 have had at least one foreclosure since 2006, according to Attom Data Solutions. — NYT

The billboard suggested the rapid rise in home values between 2008 and 2017 necessitates a steep tax aimed at speculative flipping. The proposed tax would grab as much as 100 per cent of the profit from a home resale during the first year of ownership, then decline by increments of 10 per cent over 10 years. It would target non-resident and resident buyers alike, including primary residences [...] the goal is to keep Toronto’s popular neighbourhoods affordable for all income levels. — The Globe and Mail

The number of apartments deemed affordable for very low-income families across the United States fell by more than 60 percent between 2010 and 2016, according to a new report by Freddie Mac.

The report by the government-backed mortgage financier is the first to compare rent increases in specific units over time. It examined loans that the corporation had financed twice between 2010 and 2016, allowing a comparison of the exact same rental units and how their affordability changed. — The Washington Post

New York City is in the throes of a humanitarian emergency, a term defined by the Humanitarian Coalition of large international aid organizations as “an event or series of events that represents a critical threat to the health, safety, security or wellbeing of a community or other large group of people.” New York’s is [...] a “complex emergency”: man-made and shaped by a combination of forces that have led to a large-scale “displacement of populations” from their homes. — The New York Review of Books

The average price of building a garage parking space (as much as $34,000 in 2012) is passed on to people whether they own a car or not, and distort the true demand for urban parking. — Quartz

The standard yardstick for judging housing affordability is to look at the median level of rents or home prices. As we all remember from statistics, the median is the observation in the middle of the distribution. And while for many purposes, it’s a reliable indicator of typical prices, in some neighborhoods, particularly those with a mix of expensive and cheap housing, the median is actually a weak indicator of affordability. — City Observatory

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

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

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

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

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

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

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