Jenny Schuetz: Who's To Blame for High Housing Costs?

02/24/20 • 48 min

The affordable housing crisis is affecting not just people in coastal cities like Boston, New York, San Francisco, L.A., Seattle, and Portland. The crisis is spreading geographically and rippling throughout the economy. In the midst of such a crisis, it’s natural to want to assign blame; it’s also natural to look for a silver bullet solution. But is that even possible with a phenomenon as massive (and massively complex) as the housing crisis? Is development a rigged game, open only to the largest and best-connected firms?

To help us get some answers we talked to Jenny Schuetz, a fellow at the Metropolitan Policy Program at The Brookings Institution. Schuetz is an expert in urban economics and housing policy, with a focus on housing affordability.

In this episode of the Strong Towns podcast, Strong Towns president Chuck Marohn talks with Schuetz about her recent article on the factors driving up housing costs. She and Chuck discuss the role of uncertainty—both “time uncertainty” and “success uncertainty”— in the soaring cost of homes, why only the biggest developers can afford to build in some major metros, and why local housing discussions often pit the homeowner class against the renter class.

They also discuss what city officials and local advocates can do to loosen the housing market in their places—including allowing the next increment of growth by right, similar to the recent change in Minneapolis.

This is a masterclass on the housing crisis from one of the nation’s foremost experts.

Additional Show Notes:

Read Jenny Schuetz’s article: “Who’s to blame for high housing costs? It’s more complicated than you think.”
Follow her on Twitter: @jenny_schuetz
Jenny Schuetz at The Brookings Institution
Subscribe to the Brookings Metro Newsletter
Recent Housing Articles from Strong Towns

This is a masterclass on the housing crisis from one of the nation’s foremost experts.

Additional Show Notes:

Read Jenny Schuetz’s article: “Who’s to blame for high housing costs? It’s more complicated than you think.”
Follow her on Twitter: @jenny_schuetz
Jenny Schuetz at The Brookings Institution
Subscribe to the Brookings Metro Newsletter
Recent Housing Articles from Strong Towns

Previous Episode

Tim Carney: "Alienated America" and the Rise of Populism

The rise of Donald Trump in the 2016 primaries—and his eventual win in the general—defied expectations and confounded explanations. Nearly every national poll was wrong, and political observers have spent the last four years trying to understand what happened (and how so many of the experts missed it).

In his book Alienated America: Why Some Places Thrive While Others Collapse, Timothy Carney makes the compelling case that the most common explanations for Trump’s ascendance—the economy, for example—don’t get to the root of things. He demonstrates that the people who resonated with Trump’s message that “the American dream is dead” are those whose communities lacked the social cohesion that binds neighbor to neighbor. While voters cast ballots mostly along party lines in the general election, in the early primaries, Candidate Trump actually struggled in places where the institutions that are “the key to the good life”— faith communities, vibrant civic organizations, etc.—already gave people a strong sense of purpose and belonging. Maybe you’re starting to see why Strong Towns founder and president Chuck Marohn named Alienated America one of the best books he read in 2019, saying “I highly recommend it to anyone trying to understand the cultural ramifications of fragile places.”

Tim Carney is Chuck’s guest on this week’s episode of the Strong Towns podcast. Together, they discuss how populism—on both the right and the left, and in 2016 as well as today—is springing from alienation (we need to belong to something). They talk about community’s physical dimension (proximity, walkability, etc.), why people are healthiest when they belong to “a lot of little platoons,” and why idleness isn’t so much a vice as an affliction. This episode is a must-listen for anyone interested in how frayed social bonds effect not just our national politics but our local life as well.

Show Notes:

Next Episode

David McAlvany: Legacy is an Accumulation of Little Decisions

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This week’s guest on the Strong Towns podcast is David McAlvany, a respected thought leader on the global economy. David is the CEO of McAlvany ICA and the host of McAlvany Weekly Commentary, a podcast about monetary, economic, and geopolitical news. (This is on the very short list of can’t-miss podcasts for Strong Towns president Chuck Marohn.) David is also the author of The Intentional Legacy, a book about consciously shaping the legacy we hope to leave future generations.

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The word “intentional” comes from a Latin word meaning “to stretch toward.” Thus, to be intentional with our legacy is to stretch towards the future even as we make decisions in the present. This wide-ranging conversation will help us make the right decisions, the kind of decisions—big and small—we’ll feel comfortable rippling ahead of us for generations to come.

Additional Show Notes: