Richard Florida writes that Canadians great love for homebuying (with a greater home ownership rate than even the U.S.) could be economically instable.
While Florida agrees that homeowners are good for communities, the tying up of all those Canadian dollars in homes means a lack of investment in other markets.
He writes, "A study by the Federal Reserve Bank of Dallas in 1998, well before the boom and bust, found the U.S. had over-invested in housing relative to other forms of capital since 1929. It has drained off capital from productivity improvement, innovation, medical technology, software or alternative energy: sectors that could drive growth well into the future.
Here as well, housing sucks up a huge share of national capital that should go to support innovation and new industries."
FULL STORY: Housebound: why owning a home can be bad for Canada
HUD Cuts Could Derail Mortgage Underwriting Agency
Staffing cuts at the Federal Housing Administration could imperil affordable housing projects and mortgage programs for new homeowners.
Half of Altadena’s Black Homes Lost or Damaged in Eaton Fire
The community has higher Black homeownership rates than most of Los Angeles, but now faces an uncertain future as residents struggle to rebuild.
Mobile Home Prices Rising Sharply
Manufactured housing offers an affordable housing option for many Americans, but mobile homes — and land rents — are going up in cost.
Alabama: Trump Terminates Settlements for Black Communities Harmed By Raw Sewage
Trump deemed the landmark civil rights agreement “illegal DEI and environmental justice policy.”
Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25% resulting in 1,900 jobs lost.
Why Should We Subsidize Public Transportation?
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Paris Bike Boom Leads to Steep Drop in Air Pollution
The French city’s air quality has improved dramatically in the past 20 years, coinciding with a growth in cycling.
Why Housing Costs More to Build in California Than in Texas
Hard costs like labor and materials combined with ‘soft’ costs such as permitting make building in the San Francisco Bay Area almost three times as costly as in Texas cities.
San Diego County Sees a Rise in Urban Coyotes
San Diego County experiences a rise in urban coyotes, as sightings become prevalent throughout its urban neighbourhoods and surrounding areas.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Smith Gee Studio
Alamo Area Metropolitan Planning Organization
City of Santa Clarita
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Toledo-Lucas County Plan Commissions
Salt Lake City
NYU Wagner Graduate School of Public Service