Where is there too little or too much housing?
Where is there too little or too much housing?
Metro areas where local governments restrict the development of new housing, despite strong population and/or income growth, are prone to an undersupply of housing. The analysis focuses on three metropolitan areas, each of which represents a different market reality: too little, too much, or just right.
Why are there so many vacant houses in the US?
The durability of buildings can lead to oversupply, resulting in vacant houses. Similarly, developing new homes also takes time, up to several years for large or complex projects, so home builders cannot instantly ramp up production to meet increased demand. Both demand and supply of housing are highly localized.
Where is the gap between housing supply and population growth?
The gap between housing and household growth rates is more pronounced at the regional level. Households and housing supply grew much faster in the South and West than in the Northeast and Midwest from 1940 to 2010 (Figure 2), confirming the general shift of U.S. population towards the Sunbelt.
When did housing supply in the suburbs exceed growth?
Housing supply growth in the suburbs greatly exceeded household growth from 1940 to about 1990, after which point household growth exceeds supply growth. Nashville represents a relatively small group of metropolitan areas with strong but not overheated housing markets.
How does the first and last mile subdivision work?
The “First and Last Mile” Shouldn’t Suck. Whenever a new subdivision is built, private developers determine the layout of the neighborhood. They draw up the lots and blocks, and build the streets, utilities, and houses in accordance with the subdivision regulations and other applicable codes.
How is the layout of a subdivision determined?
Whenever a new subdivision is built, private developers determine the layout of the neighborhood. They draw up the lots and blocks, and build the streets, utilities, and houses in accordance with the subdivision regulations and other applicable codes. Once complete, they sell the houses, convey ownership of the streets to the city and walk away.
Do you know about the local subdivision regulations?
The local subdivision regulations. Despite their power to shape cities, these regulations operate in almost complete obscurity. Even the most battle-hardened veteran of the zoning wars would be hard pressed to explain what the subdivision regulations do. Most folks don’t even know they exist. Be a Nerd, Save your City.
How big of a block can you build in a subdivision?
When it comes to walkability, maximum block lengths can make or break a neighborhood. If your subdivision regulations haven’t been updated in a while, expect to see maximum block lengths of up to 1,500 feet or more. (For comparison, traditional neighborhood blocks are typically between 300-650 feet in length.)