Elizabeth Warren's YIMBY plan: 1. Block grants to cities that reduce zoning restrictions 2. Subsidies for affordable housing 3. Down payment assistance to help poor people buy houses 4. More policing of lending discrimination https://www.theatlantic.com/politics/archive/2018/09/elizabeth-warrens-fix-americas-housing-crisis/571210/ … I like it.
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Replying to @Noahpinion
1 and 4 sound obviously good, 2 sounds alright, and 3 sound like a foot gun.
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Replying to @mattparlmer
It's what Conor Sen and I called for a few days before the plan came out!https://www.bloomberg.com/view/articles/2018-09-24/america-needs-policy-to-revive-the-dream-of-homeownership …
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Replying to @Noahpinion
Haven't seen the research you cite before so I'll give it a read, but it does seem unintentionally regressive to incentivize poor people to tie themselves to a large illiquid asset that is likely in an unproductive area because that's what they can afford.
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Replying to @mattparlmer
You can make the grants conditional on buying a house in a productive area.
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Replying to @Noahpinion @mattparlmer
Sounds dangerously close to redlining.
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Replying to @stellar678 @Noahpinion
That's one of several things I'm worried about.
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Replying to @mattparlmer @stellar678
You're kidding, right? This is explicitly the opposite.
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Replying to @Noahpinion @stellar678
Not at all, it depends on how you define "productive area". And for that matter the productive areas of one time period don't necessarily equal the productive areas of another time period. Exposes people to a lot of risk over time.
1 reply 0 retweets 5 likes
That is true! But what we really mean is buy poor people houses in neighborhoods somewhat more upscale than their current ones.
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