Category: New York City

A glut by any other name

20 October, 2009 (10:07) | Affordability, Apartments, Asset management, Demand, Housing, New York City, Theory, US News | No comments

By: David A. Smith
 
… is affordability?
 

Am I up when you’re down?
 
When the homeownership rate drops, what happens to apartment occupancy?  As illustrated by this Wall Street Journal article, the answer depends on two factors:
 
1. Why homeownership rates are dropping
2. How long it has been since the homeownership drop began
 
Start with a fact. 
 

Start with [...]

Temporary permanence?

1 September, 2009 (09:48) | Housing, Informal, New York City, Slums, Speculation | No comments

Here in the comfortable West, we think all our housing is formal, in contrast to that ‘informal’ housing they have in the global south – yet all around us, we tolerate permanent informality, because we think it temporary, as unwittingly revealed by this faintly touch-in-cheek Wall Street Journal article:
 

A sky of scrapers … if you [...]

Reviving transportation?

21 August, 2009 (09:40) | Cities, Homeless, Immigration, Innovations, New York City, Policy | No comments

What to do with the homeless?  Can we just wish them away?
 

Just say yes, and an anonymous person vanishes
 
A moral-philosophy question rattling through cyberspace asks, If you were offered $1,000,000 to make someone disappear, would you?
 

Happy to make the stain of homelessness vanish?
 
Actually, as documented in this New York Times article, the cost is much [...]

No landlord at all: Part 2, the present lender

22 July, 2009 (08:54) | Landlords, New York City, Rent control, Rental, Subprime, Tenure, Theory, US News | 1 comment

[Continued from yesterday’s Part 1.]
 
When an owner skedaddles, leaving a trail of crumbling buildings and reams of uncured building code violations, whom can we vilify?
 

Building code violations!  New York Times articles!  Run away!
 
Certainly someone is culpable:
 
At 1744 Clay Avenue, residents have endured winter days without heat and hot water. The super has not been paid [...]

No landlord at all: Part 1, the vanished landlord

21 July, 2009 (10:59) | Landlords, New York City, Rent control, Rental, Subprime, Tenure, Theory, US News | No comments

Residential property is an exoskeletal shell that, like the chambered nautilus, is alive only when inhabited, the occupant playing the important role of eternal vigilante. 
 

I may not own it, but I occupy it!
 
These two roles are best fused via homeownership, where the occupant and the owner are one and the same, but can also [...]