Wednesday, October 29, 2014

Where is Affordable Housing Most Prevalent...

Rational Nation USA
Purveyor of Truth

Why Middle-Class Americans Can't Afford to Live in Liberal Cities

Blue America has a problem: Even after adjusting for income, left-leaning metros tend to have worse income inequality and less affordable housing.

Excerpt from the article linked above, "Even after adjusting for differences of income, liberal markets tend to have higher income inequality and worse affordability,” Kolko said.

Kolko's theory isn't an outlier. There is a deep literature tying liberal residents to illiberal housing policies that create affordability crunches for the middle class. In 2010, UCLA economist Matthew Kahn published a study of California cities, which found that liberal metros issued fewer new housing permits. The correlation held over time: As California cities became more liberal, he said, they built fewer homes.

"All homeowners have an incentive to stop new housing," Kahn told me, "because if developers build too many homes, prices fall, and housing is many families' main asset. But in cities with many Democrats and Green Party members, environmental concerns might also be a factor. The movement might be too eager to preserve the past."


Complete article BELOW THE FOLD.

Via: Memeorandum

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