Schmidt: one-third of "naturally occurring" affordable housing (eg older lower cost buildings) have changed owners over past X years. Each resale comes with a rent increase. (note: this is outcome of global capital chasing too few assets - again b/c of limited supply.)
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@Jacob_Frey : forget states, *cities* are the laboratories of democracy. [or at least the right scale labs for some types of policy.]Prikaži ovu nit -
Frey: once cities couldn't explicitly discriminate against blacks, Jews, other groups through racially restrictive covenants, they switched to implicit discrimination through zoning. [lots of evidence supports this.]
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Frey: another revolutionary thing Minneapolis is doing w/ housing policy, we're spending general tax revenues to produce very-low-income housing. [most mayors like to squeeze greedy developers instead of voters through property tax increases.]
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Frey: "I believe in beautifully diverse neighborhoods" (racially, economically, age/household type). But single-family-exclusive zoning won't let you build them. Legalizing apartments enables diverse neighborhoods.
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Herbert: how much interest is Minneapolis getting from other parts of the country in zoning reform? Frey: tons. [he's not exaggerating.]
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Frey: besides doing zoning reform, maybe there's room for financial incentives. Like making it easier to get a mortgage for a triplex. [this is super important conversation that needs to happen.]
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Herbert: the whole country will be watching Minneapolis over next 5 years. [so, no pressure!
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Frey: housing policy isn't just cities & HUD, state govts play critical role in helping cities fund below-market housing [and could help incentivize zoning reform...]
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Frey: Minneapolis offers property tax reduction to landlords who agree to keep some apartments at below-mkt rents. That helps keep some housing affordable w/out new subsidy. [city does lose revenues, so kind of subsidy]
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here ends the live-tweet + commentary...y'all should go read
@Harvard_JCHS new rental housing report. https://www.jchs.harvard.edu/americas-rental-housing-2020 …Prikaži ovu nit
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