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July 19, 2006
Land Costs, Smart Growth and Housing Affordability
A new study from the Federal Reserve Bank by economists Morris A. Davis and Michael Palumbo finds that land makes up 50% of the value of residential property in large cities. This is up from about a third in 1982.
The implications for Smart Growth and land use regulation are pretty dramatic. This results suggest land use regulations will have an even larger impact on housing prices and housing affordability in the future. Growth management policies primarily impact the ability of developers to access land for new residential (and commercial) development. As land makes up a bigger and bigger part of housing prices, small changes in the supply of land can have bigger absolute impacts on housing prices and affordability. Affordability will be tied more and more to public policy and less to construction costs.
Moreover, most Smart Growth policies focus on increasing density. Higher densities are related to higher housing costs, mainly through the impact on land prices.
Reason has two studies relevant to this discussion. One is on urban growth boundaries, and the other on statewide growth management laws.
Posted by samstaley at July 19, 2006 09:31 AM
Basically nothing seems worth thinking about. I haven't been up to much these days. I just don't have much to say right now. I can't be bothered with anything , but whatever.
Comment by: Sten70469 at January 26, 2007 03:44 PM
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retty much nothing seems worth thinking about. My life's been completely dull , not that it matters. I've just been staying at home waiting for something to happen.
Comment by: Sten30045 at January 26, 2007 08:13 PM
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I just don't have anything to say. Not that it matters. Eh. I've just been staying at home doing nothing, but I don't care. That's how it is.
Comment by: Sten13808 at January 27, 2007 04:37 AM
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I just don't have anything to say. Not that it matters. Eh. I've just been staying at home doing nothing, but I don't care. That's how it is.
Comment by: Sten85814 at January 27, 2007 06:38 AM
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I've just been staying at home not getting anything done. I've basically been doing nothing worth mentioning. My life's been pretty unremarkable these days. Eh.
Comment by: Sten66856 at January 27, 2007 11:55 AM
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I just don't have anything to say right now. I haven't been up to anything recently, but it's not important. I've just been sitting around waiting for something to happen, but shrug.
Comment by: Sten91285 at January 28, 2007 01:27 AM
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I haven't been up to anything today. I don't care. I've just been staying at home not getting anything done. Basically not much happening right now. Maybe tomorrow. I guess it doesn't bother me.
Comment by: Sten8747 at January 28, 2007 09:50 AM
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I just don't have anything to say , but shrug. So it goes. Not much on my mind recently. I can't be bothered with anything recently.
Comment by: Sten67676 at January 28, 2007 06:37 PM
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My life's been basically bland today. More or less nothing seems worth thinking about. My mind is like an empty room. I've more or less been doing nothing to speak of. Not much on my mind recently.
Comment by: Sten78665 at January 29, 2007 02:46 AM
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I just don't have anything to say right now. I haven't been up to anything recently, but it's not important. I've just been sitting around waiting for something to happen, but shrug.
Comment by: Sten85237 at January 29, 2007 03:34 PM
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I haven't been up to anything these days. So it goes. I can't be bothered with anything these days.
Comment by: Sten53242 at January 30, 2007 01:47 PM
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Basically nothing noteworthy happening right now, but eh. Today was a complete loss. I haven't been up to much recently. I've pretty much been doing nothing worth mentioning.
Comment by: Sten3564 at February 1, 2007 12:23 AM
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I haven't been up to anything today. I can't be bothered with anything recently. Nothing seems worth thinking about. I haven't gotten anything done recently, but oh well. Not much noteworthy going on worth mentioning.
Comment by: Sten79276 at February 1, 2007 10:19 AM
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I haven't been up to anything recently, but so it goes. Such is life. What can I say? Pretty much not much exciting going on to speak of. I haven't gotten much done lately, but I don't care.
Comment by: Sten75102 at February 2, 2007 07:34 AM
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I haven't been up to anything today. I don't care. I've just been staying at home not getting anything done. Basically not much happening right now. Maybe tomorrow. I guess it doesn't bother me.
Comment by: Sten77837 at February 2, 2007 02:51 PM
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I can't be bothered with anything these days, but such is life. I don't care. So it goes. More or less nothing seems worth thinking about. I've just been hanging out waiting for something to happen, but that's how it is.
Comment by: Sten50081 at February 2, 2007 08:54 PM
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retty much nothing seems worth thinking about. My life's been completely dull , not that it matters. I've just been staying at home waiting for something to happen.
Comment by: Sten85170 at February 3, 2007 05:46 AM
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I just don't have much to say these days, but so it goes. Today was a total loss. I guess it doesn't bother me.
Comment by: Sten51884 at February 3, 2007 07:39 AM
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My life's been basically bland today. More or less nothing seems worth thinking about. My mind is like an empty room. I've more or less been doing nothing to speak of. Not much on my mind recently.
Comment by: Sten76162 at February 4, 2007 02:15 AM
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My mind is like a bunch of nothing, but I guess it doesn't bother me. I haven't been up to anything recently. I've pretty much been doing nothing to speak of.
Comment by: Sten43424 at February 4, 2007 12:06 PM
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Basically nothing seems worth thinking about. I haven't been up to much these days. I just don't have much to say right now. I can't be bothered with anything , but whatever.
Comment by: Sten21589 at February 4, 2007 04:49 PM
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I've just been staying at home not getting anything done. I guess it doesn't bother me. Shrug. I haven't been up to anything. I haven't gotten much done today.
Comment by: Sten59953 at February 4, 2007 11:09 PM
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Basically nothing noteworthy happening right now, but eh. Today was a complete loss. I haven't been up to much recently. I've pretty much been doing nothing worth mentioning.
Comment by: Sten85854 at February 5, 2007 06:59 AM
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I've just been staying at home waiting for something to happen. Whatever. Not much on my mind lately. I guess it doesn't bother me.
Comment by: Sten74281 at February 5, 2007 04:33 PM
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I can't be bothered with anything these days, but such is life. I don't care. So it goes. More or less nothing seems worth thinking about. I've just been hanging out waiting for something to happen, but that's how it is.
Comment by: Sten34442 at February 6, 2007 12:05 AM
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