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Check out this feature on my listing partner Fred Taber!

The NYU Furman Center's Faculty Director Ingrid Gould Ellen joined the @The Hamilton Project at The Brookings Institution to discuss the release of a new policy proposal on improving the single-family rental market, a joint effort with the Urban Institute's Laurie Goodman. Critics argue that large, institutional investors in the single-family market have concerning effects such as inflating housing prices and increasing rents more aggressively. But the authors of the paper suggest that the current data tells a more nuanced story. "Ownership for rental units is one of the best kept secrets," said Faculty Director Ellen on the need for more transparency. "Such transparency would benefit renters too." The authors propose three policy recommendations: 1️⃣ Adopt and enforce rental registries 2️⃣ Impose additional requirements by scale of investors 3️⃣ Improve renovation financing for owner-occupants Read the full paper here: https://buff.ly/40mfXEu

I'm excited to share this new UCLA Lewis Center for Regional Policy Studies report, published in partnership with the Terner Center, exploring some of the tradeoffs involved in the use of inclusionary zoning (IZ) policies to meet affordable housing goals. There's a lot of pressure to meet affordable housing goals, but limited tools for doing so. IZ is often seen as a solution, but the challenges of studying IZ empirically leave policymakers with very little guidance on how to think about it. This is not an empirical study, but my hope is that the conceptual approach taken here helps identify and clarify the costs and benefits of IZ. It's a starting point for deeper conversations, not the final word. Summarizing the analysis and some findings: 1. I used the Terner Housing Policy Simulator to model market-rate and below-market housing production through the City of LA's Transit Oriented Communities (TOC) program, with inclusionary zoning requirements ranging from 0% to 40%. 2. All else equal, IZ always reduces production, but higher reqs lead to diminishing gains of below market-rate (BMR) units and accelerating losses of market-rate units. There's a point where higher IZ produces fewer of *both*. 3. LA's TOC program is well-calibrated to increase production of both. For example, TOC w/ 11% IZ produces more total housing than 0% without TOC bonuses. 4. Holding TOC bonuses constant, higher inclusionary zoning requirements come at significant cost. At best, every below-market unit produced by IZ reduces market-rate production by more than 4 units. At higher IZ, this "exchange rate" climbs to almost 9-to-1. 5. Inclusionary zoning isn't just an additional cost. The below-market units produced by IZ have value to the public, and specifically to low-income households, as a private subsidy by developers. I estimate the annual value of those subsidies under different IZ scenarios, ranging from $550 million to $1.7 billion. 6. We don't know how much different IZ requirements will increase rents, but we *can* estimate how much rents would need to increase to negate the value of private subsidies invested in affordable IZ units. And I find the required rent increases are quite small. For example, a 16% IZ requirement reduces market-rate production by almost half. If that reduction causes rents to increase at least 4.8% instead of 4% per year, the costs may outweigh the benefits. To me, that's not implausible. My takeaway: Different tools have different strengths, and land use policy may be best suited to improving affordability in the wider housing market, while public subsidies are best for producing below-market homes. IZ seeks to produce affordable homes by substituting land use policy in place of broadly shared taxes and public subsidies. This analysis suggests that the public may be paying either way, and that the costs of IZ are both higher and more regressive than the alternative

So proud to share our new paper, "Pedestrian-oriented zoning moderates the relationship between racialized economic segregation and active travel to work, United States." This project is thanks to the leadership of Jamie Chriqui and Julien Leider, as well as PAPREN for prioritizing this work! We've also put together a neat one pager summarizing our findings: https://lnkd.in/eJ8aYPK3 https://lnkd.in/eTYnMCsu

Golden State, Tarnished Dreams: California, a land of sun-kissed beaches and Hollywood magic, now casts a shadow of disillusionment with its escalating affordable housing crisis. As tech titans rise and coastal cities shine, the cost of a roof overhead skyrockets, pushing dreams and wallets to their limits. From the bustling heart of LA to the tech hubs of Silicon Valley, the quest for affordable housing becomes a modern-day gold rush, where few strike it rich and many are left panning for hope. However, in the heart of California's housing conundrum lies an untapped vein of potential: Accessory Dwelling Units (ADUs) and prefab modular housing. These innovative solutions, heralded for their speed, efficiency, and adaptability, offer a beacon of hope to Californians. No longer relegated to the background, ADUs and modular homes are stepping into the spotlight, presenting a way to unlock affordable living spaces in a state thirsting for change. The future of California housing may well be compact, creative, and customizable, ensuring dreams remain accessible to all. If you are interested in or just simply curious about ADUs and/or modular homes, we should definitely connect! 🙂 #affordablehousing #ADUs #modularhousing #prefab #sitebuilt

Last Friday, Daniel O’Keefe and I discussed how we build vibrant cities of the future at the Governor’s CTBILT conference. I shared the work we have been doing on housing under Governor Lamont’s leadership. In the first four years we completed more than 10k units, state investment of $465M generated additional $1.9B in other public and private investments. A total of $2.3B in development activities. We had replaced older public housing with new mixed-income housing, repurposed blighted buildings and built homeownership in some towns. We have been working with leaders of our small and big municipalities providing resources, technical assistance and support in general. The Governor and legislators committed $800M for housing in the next two years. With this type of commitment it is easy to imagine that in 10 years, all CT residents will have housing options. Housing with rents that are affordable for all income levels, homeownership options, live and work in a city or in small town.

I'm really excited about the books coming out this fall by Sara C. Bronin Michael Eliason Shamichael Hallman Benjamin Bradlow Alex Hannaford Joe William Trotter, Jr. and Nicole Gelinas covering topics like zoning, the importance of libraries, Black cities, pedestrianization, low-carbon design, gentrification, and more. Check them out here: https://lnkd.in/eKsh6Fn6

The Wall Street Journal on ADUs: There are many practical reasons why a homeowner might want to build an accessory dwelling: to house aging parents or adult offspring, or as an income-generating rental property. But some are designing them just for themselves. https://lnkd.in/gqsrGdUu? #adu #adus #construction #realestate #housing #housingmarket