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☆ Canada's First Nations are building the densest neighborhood in the country by reclaiming their ancestral land and defying NIMBYs
▼ + stars: | 2024-03-27 | by ( Eliza Relman | ) www.businessinsider.com time to read: +10 min

AdvertisementMindy Wight, CEO of the Squamish development group building Sen̓áḵw, called it "the creation of a modern Squamish village" in an interview with Business Insider. Canada's federal auditor general recently condemned a "distressing and persistent pattern of failure" by federal programs designed to support First Nations housing and infrastructure, among other services. The housing projects aren't the only major developments underway on indigenous land in Canada. There are no housing or infrastructure developments on US tribal land that match the scale of the First Nations projects in Canada. While some Native American tribes have spearheaded significant housing projects, most indigenous-owned land in the US isn't in the most valuable housing markets.

Persons: —, it's, Mindy Wight, Sen̓áḵw, Brennan Cook, Cook, Heather, reaps, Elisa Campbell, Jericho, Campbell, Heather Lands, Sen̓áḵw, Gordon Price, Price, Tyler Harper, aren't, Michelle Cyca, Alex Armlovich, Armlovich, Noah Smith Organizations: Service, Nations, First Nations, Business, Nation, MST, Corporation, MST Development Corporation, Vancouver City, Canada Lands Company, Energy, Technologies, British Columbia, CBC Vancouver, Bates, Niskanen Locations: Canada, Vancouver, Squamish, Squamish Nation, Wight, Jericho, British, American, MacLean's, Canadian

☆ It pays to have rich friends — and whether you have them depends a lot on where you live
▼ + stars: | 2024-03-25 | by ( Eliza Relman | Juliana Kaplan | ) www.businessinsider.com time to read: +1 min

Harvard research indicates friendships with richer people are linked to upward economic mobility. AdvertisementBefriending rich people can do a whole lot to boost your economic mobility, but you need to be able to find them first. Research from Harvard economist Raj Chetty has shown that friendships with richer people are linked to upward economic mobility. But to do that, you need to live in areas where you'll be able to mix across income levels. That's because, among children who grow up in areas where lower-income kids have more higher-income friends, there's "much higher rates of upward mobility."

Persons: —, Raj Chetty, Chetty Organizations: Harvard, Service, Research, Business

☆ A 71-year-old Californian explains why she's one of many boomers reluctant to sell their large homes and downsize — and it has nothing to do with money
▼ + stars: | 2024-03-24 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Like Frieden, they're having a hard time finding what they need on the market. Frieden says she's surprised developers aren't doing more to meet the demand, particularly at the higher end of the market. Empty-nest boomers now own twice as many large homes as millennials with kids do, according to a recent Redfin analysis. This is making it even harder for millennials and households with kids to break into the market or upsize their homes. AdvertisementThis misallocation of housing — and shortage of larger condos and apartments — will become increasingly urgent as boomers age in homes that aren't ideal — or even safe — for them.

Persons: Deborah Frieden, —, they've, Frieden, they're, they'd, Joe's, she's, I've, Daryl Fairweather Organizations: Service, BI Locations: Oakland , California, Lake Merritt, Frieden

☆ Taylor Swift and the Kardashians have been ripped for their jet emissions, but celebs and CEOs aren't the only ones flying private
▼ + stars: | 2024-03-19 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

Celebrities like Taylor Swift are frequently called out for their private jet usage. The average private jet owner is a 50-year-old man working in finance or real estate. Last month, social-media users called out Taylor Swift for her frequent private jet trips (even if some of the flights may not be what they seemed). Stars like Kim Kardashian and Kyle Jenner have also been roasted for years over their private jet usage. Still, despite all the attention and outrage directed at popular female celebrities and their jets, they are not the majority of private jet travelers.

Persons: Taylor Swift, —, it's, Kim Kardashian, Kyle Jenner, Fernando Gonzalez, Chuck Collins, BI's Eliza Relman Organizations: Service, First, Travel Weekly, Business, FAA, Institute for Policy Studies Locations: New York

☆ The viral 'Twitter menswear guy' just wants an affordable home in a walkable neighborhood
▼ + stars: | 2024-03-16 | by ( Eliza Relman | ) www.businessinsider.com time to read: +6 min

It belongs to San Francisco-based fashion writer Derek Guy, also known as the "Twitter menswear guy" behind the @dieworkwear account. But, increasingly, he's been sounding off on his other passion: affordable housing. "I'm probably never going to be able to afford a home in San Francisco, that's my guess, or anywhere in the Bay Area, unless I move really, really, really far out," he said. But Guy has written about how diversity in cities — made possible by affordable housing — is essential for creative inspiration. How about you put me in the middle of a ton of affordable housing."

Persons: —, you've, Derek Guy, Guy, he's, I'm, Maison, ragamuffins, KP6dM0W62T, derek, Guy's, YIMBYs, we're, Matthew Yglesias, Kate, Kate her, Princess, Wales, Middleton, He's Organizations: Service, Business, Franciscans Locations: San Francisco, Bay, North America, Vietnam, —, Tokyo

☆ 4 of the most competitive rental markets in the country added virtually no new apartments in 2023. It shows the housing crisis isn't going away.
▼ + stars: | 2024-03-15 | by ( Eliza Relman | ) www.businessinsider.com time to read: +3 min

Read previewThe most competitive rental markets in the country are failing to add enough new housing. That's according to a new analysis of the country's 139 largest rental markets by RentCafe, which found that 17 of the 20 most competitive rental markets in the US are building less than the national average. Miami has the most competitive rental housing market in the country, the report found. Just 3.5% of Miami's rental apartments were vacant early this year — far below the five to eight percent vacancy rate that's considered healthy. Seven midwestern cities are among the top 20 most competitive markets in the US.

Persons: —, RentCafe Organizations: Service, RentCafe, Oklahoma City, Silicon Valley , California —, Business, Income Housing Coalition, —, Miami, Chicago . College towns —, University of Arkansas Locations: Oklahoma, Bridgeport, New Haven, Connecticut, Lansing, Ann Arbor , Michigan, Silicon Valley , California, Brooklyn , New York, San Diego, North New Jersey, Miami, Midwest, Milwaukee, North Jersey, Chicago, Fayetteville

☆ One way to help American homebuyers? Do what the Dutch do.
▼ + stars: | 2024-03-13 | by ( Cork Gaines | Eliza Relman | ) www.businessinsider.com time to read: +5 min

The Dutch offer home mortgages with evolving interest rates that can automatically decrease over time. However, other countries are taking notice: The Dutch mortgage lender DMFCO recently began offering Dutch-style mortgages in the UK. AdvertisementBut there are some deeply entrenched features of the American mortgage system that make it unlikely we'll see widespread adoption of Dutch-style mortgages. AdvertisementAdditionally, mortgage interest rates in the US aren't determined by the loan-to-value ratio beyond a certain point. AdvertisementBut Cecela says he's interested to see what happens with the Dutch-style mortgages newly on offer in the UK.

Persons: —, Lindsey Harn, Lindsey, Harn, Guy Cecala, Cecala, Melissa Cohn, Raveis, Cohn, he's Organizations: Service, Business, Lindsey Harn Group, Mortgage, Mortgage Finance, USA Locations: Netherlands, San Luis Obispo County , California, Europe

☆ There are so few starter homes on the market, Biden wants to pay people $10,000 to sell their houses
▼ + stars: | 2024-03-12 | by ( Eliza Relman | ) www.businessinsider.com time to read: +1 min

US homeowners are staying put due to high mortgage rates and home prices. Biden has proposed housing policy changes, including a $10,000 tax credit to sell a home. The tax credit could get more starter homes on the market, but much more building is needed. AdvertisementWith mortgage rates elevated, lots of homeowners in the US are staying put. They figure they're better off waiting until mortgage rates or home prices — or both — come down before they begin the hunt for their next house.

Persons: Biden, — Organizations: Service, Business

☆ Biden's laws are pouring billions into new infrastructure and it could be a rare opportunity to make communities safer and more sustainable
▼ + stars: | 2024-03-11 | by ( Eliza Relman | ) www.businessinsider.com time to read: +11 min

The American Society of Civil Engineers gave it a C-minus in 2021 and said the US needed about $2.6 trillion in infrastructure investment over a decade. These include nonvehicle transportation projects such as pedestrian bridges and urban bike paths and neighborhood-level projects like park improvements. Inflation, worker shortages, and other obstaclesAcross the country, there are some key practical challenges to implementing infrastructure projects. Overcoming barriersLocal governments and employers across the country recognize many of the challenges to building and maintaining major projects. Under the Infrastructure Investment and Jobs Act alone, 72 programs "emphasize or allow some type of workforce development activity," a Brookings report found.

Persons: —, Joe Biden, Joseph Kane, Charles Marohn, Marohn, Kane, Drew Angerer, it's, Biden, It's, Greg Gianforte Organizations: Service, American Society of Civil Engineers, Infrastructure Investment, Jobs, Business, Transportation, Brookings Institution, Rail, Potomac, White House, Texas Department, US Department of Transportation, Michigan's, Grant, they're, Biden, Builders and Contractors, Congress, Jobs Act, Brookings Locations: Washington, Strong, Baltimore, Los Angeles, San Francisco, Long, New York, Austin, Austinites, America, Detroit, Brookings, Montana

☆ The Trump-supporting governor of Montana is staking his reelection on a set of 'miracle' YIMBY housing policies
▼ + stars: | 2024-03-09 | by ( Eliza Relman | ) www.businessinsider.com time to read: +10 min

Greg Gianforte blames Paramount's hit 2018 soap opera "Yellowstone" for what he calls his state's most pressing crisis: housing affordability. The so-called Montana Miracle has been celebrated by progressive housing advocates across the country. The policies are supply-side fixes for the crisis — creating more housing to drive down costs — rather than subsidizing renters or lower-income homebuyers. Education Images/Getty ImagesRunning on housingGianforte was "pretty distant" when it came to overseeing the housing task force, Dugan said. Last June, he extended the housing task force through the next legislative session.

Persons: —, Greg Gianforte, Paramount's, Kevin Costner's, Gianforte, It's, it's, Kelly Lynch, who've, Mary Vanier, Kendall Cotton, Nathan Dugan, Daniel Zelnikov, Zelnikov, Lynch, Dugan, trickier, I've, he's, That's, Karlen, George Nikolakakos Organizations: Service, Business, Big Sky, Montana League of, Republican, Democratic, Montana, Frontier Institute, GOP Locations: Montana, Bozeman, and Towns, Montana's, Missoula, California, Whitefish, Washington

☆ 'Love is Blind' fans are bashing the cookie-cutter Charlotte suburbs featured on the show. Here's how experts say they can be improved.
▼ + stars: | 2024-03-07 | by ( Juliana Kaplan | Eliza Relman | ) www.businessinsider.com time to read: +9 min

"Why aren't we talking about the most terrifying part of Love is Blind: this Charlotte housing development," one viewer posted on X alongside an aerial image of the newly-built cookie-cutter rowhouses. I think my favorite part of this season of Love is Blind is how horrible it makes Charlotte look as a city. But you're still doing the wrong thing," Toderian said of Blu South. "Some folks estimate that before this went into effect, about 84% of the residential land in Charlotte was restricted to only single-family housing," Lallinger said. Editor's note: March 7, 2024 — This article was updated after publication to include a comment from Blu South.

Persons: —, Netflix's, what's, Charlotte, who've, there's, Stefan Lallinger, Yongqiang Chu, Chu, it's, Brent Toderian, Toderian, Charlotte's, UDO, Lallinger, quadruplexes, Stephanie Watkins, Cruz, Watkins, townhomes Organizations: Service, Business, University of North, Blu, North, North Carolina Housing Coalition Locations: Charlotte , North Carolina, Pineville, exurbs, Charlotte, University of North Carolina, they're, North Carolina

☆ One New Yorker won $150,000 when she found out her landlord had been overcharging her. Now a bunch more tenants are using stabilization laws to get money back and pay cheaper rent.
▼ + stars: | 2024-02-28 | by ( Juliana Kaplan | Eliza Relman | ) www.businessinsider.com time to read: +13 min

AdvertisementAs TikTok becomes the new town square for all things economic transparency, the latest target of populist ire is New York City landlords. Several videos that have recently gone viral show viewers how to look into their rent histories and call out examples of potentially illegal hikes. Wait times for rent histories are now at 20 business days, up from 10 in late January, as a result of "social media activity." Klenkar has made TikToks about her old apartment and rent histories and has had "lots" of people reach out with their own rent histories. More may be on their way as New Yorkers seem to be requesting their rent histories en masse.

Persons: they've, —, Danielle —, Danielle, TikTok, it's, There's, they're, Allia Mohamed, She's, Mohamed, They've, he's, Carla —, Carla, Thomas Trutschel, Anna Klenkar, Klenkar, I've, Gothamist, DHCR, overcharge, Esteban Girón, shouldn't, It's Organizations: New York, Tenants, Service, Business, BI, Yorkers, New, US, Division, Housing, Community, Rent Administration, Rent, New York State Homes, Community Renewal, Tenant Union, Tenants PAC, Directors Locations: New York State, Cobble Hill, Brooklyn , New York, York City, New York, New York City, New, Washington Heights, Manhattan, Long Island City, Lower, Side, backpay

☆ New Yorkers are flooding a government website to figure out if they're overpaying for rent
▼ + stars: | 2024-02-24 | by ( Eliza Relman | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

A spokesperson for DHCR told Business Insider the "surge" in rent history requests is "unprecedented." Mohamed said that since she posted that TikTok, hundreds of people have emailed openigloo asking for help deciphering the rent history information they've received from DHCR. Diana Prendergast, a 27-year-old recording artist who lives in New York, requested her rent history after learning about it from TikTok. She said she's still awaiting her rent history. Did you request your rent history, or discover you were being overcharged?

Persons: —, openigloo, Allia Mohamed, Mohamed, they've, Diana Prendergast, she's, Gothamist Organizations: Service, New York, Homes, Community Renewal, New, DHCR, Business, The Met Council, Housing Locations: New York, DHCR, TikTok, New York City

☆ How the candidates running for Dianne Feinstein's Senate seat say they'll solve California's housing crisis
▼ + stars: | 2024-02-18 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Here's where the leading candidates for the Senate seat stand on housing and homelessness policy. He's proposed an audit of federal homelessness programs and said he'd support funding mental health and substance abuse programs, as well as affordable housing. "The housing affordability crisis is fundamentally a supply problem. Rep. Katie Porter, who's represented south-central Orange County since 2019, has called housing affordability her "top issue" during her Senate campaign. "We have housing policy that is being written by career politicians who cater to their big bank donors."

Persons: —, Dianne Feinstein, Barbara Lee, Katie Porter, Adam Schiff —, Steve Garvey, who's, Porter, He's, Schiff, mrIsKxNu0L, Lee Organizations: Here's, Senate, Service, homebuyers, Housing, Affordable Housing Trust Fund Locations: California, Ukraine, Gaza, Washington , California, Washington, Orange County, @katieporteroc

☆ More pedestrians were killed on Los Angeles' Vermont Avenue than in the state of Vermont in 2022 — and it's become an ad for a measure to make streets safer
▼ + stars: | 2024-02-16 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

It's deadly — especially for anyone attempting to walk or bike the city streets. More people are killed in traffic accidents in LA than in any other city in the US — and things are headed in the wrong direction. A billboard on Vermont Avenue — a 23-mile long north-south thoroughfare — blasts a chilling statistic: more pedestrians were killed on that road than in the state of Vermont in 2022. Seven pedestrians were killed in the state, while eight people were killed on the LA road with the same name. Advertisementfact check: sad, but true pic.twitter.com/re4AZduiTK — Yes on Measure HLA (@healthystreetla) January 16, 2024The avenue is among the deadliest in LA and has a few of the most dangerous intersections in LA County.

Persons: —, Mariah Carey, Miley Cyrus, Michael Schneider, Schneider, Francine Orr, hasn't, that's Organizations: Service, Business, New York City, Vermont, City, Senate, LA's Locations: Los Angeles, LA, New York, Vermont, LA County, Hoboken , New Jersey, Northern Europe

☆ It's even harder to find an apartment in Syracuse than in the New York City area — and it's a sign the housing crisis is far from over
▼ + stars: | 2024-02-15 | by ( Eliza Relman | ) www.businessinsider.com time to read: +1 min

Rental housing markets across the country have become increasingly unaffordable and competitive. Syracuse, New York is the most competitive rental market in the US, according to a new report. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIt's widely known that coastal regions like the New York City metro and the San Francisco Bay area have some of the most expensive and competitive housing markets in the country. But housing markets across the country, even in places that were long affordable, aren't building enough new housing and have severe home shortages.

Persons: —, that's Organizations: Service, New, San, Business Locations: Syracuse , New York, New York City, San Francisco Bay

☆ A fight over sewage is preventing Long Island from solving its crippling housing crisis
▼ + stars: | 2024-02-14 | by ( Eliza Relman | ) www.businessinsider.com time to read: +9 min

The people of Suffolk County, Long Island, need to start considering it. Like most of the suburbs surrounding New York City, Suffolk County is suffering from a major shortage of homes. In December, New York Governor Kathy Hochul announced she'll send $59 million to Long Island to deal with water contamination and sewer upgrades. “The governor has said she wants to see more housing on Long Island. Last year, Long Island public officials led the charge against Gov.

Persons: —, Hunter Gross, “, ” Gross, Long, Suffolk County’s, Ed Romaine, Kathy Hochul, you’ve, ”, Joe, Edmund Smyth, ” Smyth, ” Long, Kathy Hochul’s, who’ve, boomers, can’t, that's, Ian Wilder, Nathan Cummings, ” Cummings, Cummings Organizations: Service, Hamptons, Business, Newsday, Republican, ” Long Islanders, Gov, New, Housing Services, Yale Law Locations: Suffolk County, Long, New York City, Huntington, Suffolk, New York, Huntington , Suffolk County, Levittown, Black, Old Lyme , Connecticut

☆ How millennials could give the suburbs a much-needed makeover
▼ + stars: | 2024-02-11 | by ( Eliza Relman | ) www.businessinsider.com time to read: +9 min

The suburbs are home to the vast majority of Americans, including millennials priced out of cities. AdvertisementThese days, the American suburbs are seeing something of a revival after a few decades of the back-to-the-city movement, in which mostly young people flocked to urban centers. The rise of remote work coupled with the soaring costs of urban housing has pulled, or pushed, lots of millennials and others to the suburbs and even far-flung exurbs. Exclusive, isolating, and inconvenient suburbsThe American suburbs have always been flawed in a host of ways. Kotkin says the American suburbs have “won the battle” with cities, reigning as the more economically and demographically dominant place.

Persons: —, ”, Andrew Justus, ” Justus, “ We’ve, Adie Tomer, Tomer, Joe Sohm, Joel Kotkin, Kotkin, “, ” Tomer, Tayana Panova, ” Panova Organizations: Service, Niskanen, Brookings Institution, MIT, Chapman University, National Review, metros Locations: American, it’s, Paoli , Indiana, America’s, Somerville , Massachusetts, Shaker Heights , Ohio, Orange , California, Bronxville, Westchester County, Woodlands, Texas, Houston, ”, walkable, Suburban

☆ As homelessness spikes nationwide, at least 4 major cities have found ways to get people off the streets
▼ + stars: | 2024-02-08 | by ( Allie Kelly | Eliza Relman | ) www.businessinsider.com time to read: +4 min

Plans that strengthen infrastructure for temporary and permanent affordable housing, and increase local support for demographics most vulnerable to homelessness, were consistently successful. Building paths to permanent housing in those cities improved overall housing access, researchers said. But Seattle has higher rates of unsheltered homelessness, so resources were better directed to building more temporary housing options. Chicago and New York have seen longer-term success in reducing homelessness, but both saw a spike between 2022 and 2023. The main driver of homelessness is the severe housing shortage across the country, so the most fundamental solution is creating more affordable housing.

Persons: There's Organizations: Brookings Institution, Department of Housing, Urban, Seattle, Brookings Locations: Chicago, New York, Seattle, Philadelphia, Los Angeles , Oregon, New Jersey

☆ Single HENRYs are fleeing West Coast cities like San Francisco and Los Angeles for the Sunbelt, study finds
▼ + stars: | 2024-02-06 | by ( Eliza Relman | Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

These movers are disproportionately higher-income, a new Bank of America report found. Las Vegas and Phoenix are the only Western cities Bank of America analyzed that had population increases compared to first quarter 2020. Housing costs are a major reason people are leaving West Coast cities for the Sunbelt. But many Sunbelt cities have more permissive land-use and zoning regulations than their coastal counterparts, meaning they're often better equipped to keep up with rising demand by building more homes. Both West Coast and Sunbelt cities that aggressively restrict housing construction will likely continue to face affordability crises.

Persons: — Organizations: Coasters, Bank of America, Service, Bank of, Jacksonville, Las, metros Locations: Southwestern, West Coast, San Francisco, Los Angeles, Las Vegas, Florida, Georgia, Texas, Austin, San Antonio, Francisco, Seattle, Portland, San Diego, Phoenix, Miami, Orlando, Tampa, South, West

☆ The key to happiness might be living within walking distance of a coffee shop
▼ + stars: | 2024-02-04 | by ( Eliza Relman | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. More people living closer together is necessary to create more affordable and inclusive neighborhoods, housing advocates say. The research, which involved surveying almost 1,900 people living in 15 municipalities in the Vancouver region of British Columbia, found no evidence that higher-density living is associated with decreased happiness, social connection, or well-being. AdvertisementWell-designed density — think pedestrian-friendly streets with easy access to transit and amenities like shops, restaurants, and parks — was positively correlated with well-being and happiness. These findings are important for city planners and builders to understand, so they can incorporate design elements that promote well-being.

Persons: —, Tristan Cleveland, Cleveland, Madeleine Hebert, North America aren't, They're, Hebert Organizations: Service, Business, Happy Cities Locations: North America, Cities, Cleveland, Vancouver, British Columbia, walkable, —, townhomes

☆ The global cities with the best quality of life show how dire the affordability crisis is
▼ + stars: | 2024-02-01 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

AdvertisementLiving in a global city with a high quality of life is increasingly reserved for the wealthiest. The world's most liveable cities — for the wealthyThe rising cost of housing, food, and other household goods is helping worsen the affordability crisis in these cities. Vienna, for example, has kept housing costs remarkably low through its generous social housing system. The average studio apartment in Zurich costs $1.1 million and the average home across the country costs $1.4 million, the Times reported. Like in many American cities, a severe housing shortage in cities like Zurich and Geneva is also contributing to rising home costs.

Persons: —, EIU Organizations: Service, Economist's Intelligence, The New York Times, Times, Swiss Locations: Zurich, Copenhagen, Vienna, Austria Copenhagen, Denmark Melbourne, Australia Sydney, Australia Vancouver, Canada Zurich, Switzerland Geneva, Switzerland, Calgary, Canada, —, Geneva, Singapore, New York, Hong Kong Los Angeles Paris, France Copenhagen, Tel Aviv, Israel, Vancouver, Sydney, Paris

☆ California Gov. Gavin Newsom wants the Supreme Court to make it easier to clear homeless encampments. Advocates say that will make the crisis worse.
▼ + stars: | 2024-01-31 | by ( Eliza Relman | ) www.businessinsider.com time to read: +6 min

The Supreme Court will review a Ninth Circuit decision protecting unsheltered homelessness. AdvertisementThe Supreme Court earlier this month announced it would take up the most consequential case dealing with homelessness in decades. Gavin Newsom, have also asked the Supreme Court to overturn the ruling, arguing that it makes it difficult or impossible to address the homelessness crisis. Last year, a Maricopa County judge ordered Phoenix officials to clear the Zone. "Local officials can still cite, arrest, and prosecute people for any other violation of the law, including for all crimes against people and property."

Persons: Gavin Newsom, —, Johnson, California's, Newsom, Kate Gallego, Jeffrey Selbin, Selbin, Jesse Rabinowitz, court's Organizations: Circuit, CA Gov, Service, Ninth Circuit, California Gov, Phoenix, UC Berkeley, Advocacy Clinic, National Homelessness Law Locations: Grants Pass , Oregon, Martin v, Boise, Phoenix , Arizona, Maricopa, Phoenix, San Diego, San Francisco

☆ Minneapolis is giving people $500 a month and recipients say the no-strings-attached cash is helping them fight soaring housing costs
▼ + stars: | 2024-01-30 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

But significantly improving a recipient's housing situation might only be possible in a longer-term program or with larger payments, the researchers found. And the cash transfers did not cause recipients to work less , a common concern with basic income programs, the report found. A growing landscape of basic income experimentsLocal and state governments across the country are experimenting with guaranteed basic income programs, often targeting the region's most vulnerable residents, including new and expecting mothers and the lowest-income families. AdvertisementRecipients of a year-long basic income program in Austin, Texas, used most of the cash on housing costs and became "substantially more housing secure," according to surveys. "One of the undergirding premises of basic income programs, in general, is giving folks the decision-making latitude to choose for themselves where that money goes," Palmer said.

Persons: Vanessa Palmer, Andrew Goodman, Bacon, Palmer, — Organizations: Minneapolis who've, Federal Reserve Bank of Minneapolis, Federal Reserve, Federal Reserve's Center, Indian Country Development, Federal, Opportunity, Growth Institute, Urban Institute, Harvard, The New York Times, Department of Housing, Urban Development Locations: Minneapolis, Twin Cities, Austin , Texas, Washington ,, San Francisco

☆ A conservative fix for the housing crisis is making homes cheaper and more abundant in Texas
▼ + stars: | 2024-01-29 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

But unlike its coastal counterparts, Houston's homes are much cheaper and more abundant. Advertisement"It's really a way to limit housing construction," said Emily Hamilton, a housing researcher at the Mercatus Center at George Mason University. She added that minimum lot sizes maintain "a homogenous type of housing construction with often a high floor on how expensive it has to be." The policy change has spurred the construction of almost 80,000 new homes, many of them townhouses and other kinds of small-lot single-family homes. But the massive success of Houston's minimum lot size reform is getting noticed across Texas and around the country.

Persons: —, Emily Hamilton, Joseph Gyourko, Sean McCulloch, Hamilton, It's, it's, Nolan Gray, Freund, Brett Coomer, We're, Gray, Salim Furth Organizations: Service, Space, Business, George Mason University, California, Freund St, Houston Locations: Houston , Texas, New York City, San Francisco, Houston, walkable, Texas, Austin , Texas, Auburn , Maine, Helena , Montana, Arizona , Massachusetts, New York

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