North American cities have long had a problem with apartment buildings. One the one hand, they were viewed as an important requirement for world-class status. Regardless of whether there was an economic imperative to build in this way, you needed grand buildings to communicate that… Read More
Here is an excellent reason for why you may want to spend more time walking: People have noted that walking seems to have a special relation to creativity. The philosopher Friedrich Nietzsche (1889) wrote, “All truly great thoughts are conceived by walking” (Aphorism 34). The… Read More
In 2020, Berlin implemented a rent cap that applied city-wide to both new and existing rental housing contracts. The policy was later found to be unconstitutional and so as of April 2021 this is no longer in place. But for a brief period of time,… Read More
Earlier this year, Enrico Moretti, who is a professor at UC Berkeley, published this research paper looking at the effect of high-tech clusters on productivity and innovation. (I am unclear if there is any relationship to the Italian brewing company Birra Moretti.) One of the… Read More
We know that innovation and economic growth tends to be unevenly distributed. This is the bull case for living in cities and, more particularly, for living in certain cities. But of course, the big question these days is whether or not our little work from… Read More
Levered assets, such as real estate, tend to have prices that are correlated with interest rates. Lower rates usually translate into higher asset prices. We are living through this kind of environment right now. And so it is generally valuable to have a view on… Read More
There is data to suggest that on-demand (OD) mobility services — such as Uber — are increasing vehicle kilometers traveled (i.e. causing greater traffic congestion) by inducing people away from public transit and other forms of urban mobility. This is potentially even more of an… Read More
Richard Voith and Jing Liu of Philadelphia-based Econsult, along with a bunch of other smart coauthors, have just published a working paper looking at the effects of the Low-Income Housing Tax Credit (LIHTC) on home prices. More specifically, they looked at the impact that LIHTC-financed… Read More
Harvard economist Edward Glaeser has a new paper out talking about “urbanization and its discontents.” In it, he argues that while cities today are working remarkably well for highly skilled people, they don’t seem to be delivering the same upward mobility to lower skilled people.… Read More
This recent paper by Miyuki Hino (University of North Carolina) and Marshall Burke (Stanford) makes the case that US homes situated within floodplains are currently overvalued by a total of $34 billion. And that’s because the associated risks are not being properly accounted for in… Read More
BRANDON DONNELLY 