In Case You Missed It: September 23, 2019

Here’s the best of what I read recently—covering housing, the economy, and my favorite number—in case you missed it...

The 10 Trends That Will Shape Real Estate in 2020

Curbed - September 19, 2019 | By Patrick Sisson

“Economic and political uncertainty have made things feel unmoored, but the overall insight conveyed by the authors is that we’re in for a soft landing, not a sudden crash.”

Full report: Emerging Trends in Real Estate? (PDF)

As NYC Home Prices Plunge, Rents Rise at Fastest Rates Since 2016

StreetEasy - September 19, 2019 | By Emily McDonald

“The StreetEasy Rent Index rose in every submarket of Brooklyn, Manhattan and Queens, with the most significant increases in some of the most expensive areas in each borough.”

Too Much Rent Control Is Asking for Trouble

Bloomberg - September 17, 2019 | By Noah Smith

“States should make sure to use zoning deregulation and land taxes as much as possible, reducing the need for rent-control laws. And they should monitor rent caps carefully for signs that construction or renovation is being discouraged.”

Why Buying and Selling a House Could Soon Be as Simple as Trading Stocks

MarketWatch - September 16, 2019 | By Andrea Riquier

“Just as online retail has hurt the bricks-and-mortar retail industry, and tech-enabled social networks have changed not just high-school reunions but the political process, data-fied real estate could upend our lives in many ways, some we can’t even comprehend yet.”

One in Four of New York’s New Luxury Apartments Is Unsold

The New York Times - September 13, 2019 | By Stefanos Chen

“Moreover, a growing share of condos sold in recent years have been quietly re-listed as rentals by investors who bought them and are reluctant to put them back on the market.”

Why Can’t California Solve Its Housing Crisis?

Rolling Stone - September 13, 2019 | By Tessa Stuart

“At its heart, California’s housing problem is one of scarcity: According to one analysis, the state has 3.5 million fewer homes than it needs to house all the people who live there.”

Millennials, Gen Xers and Baby Boomers Agree: They Don't Make Enough to Buy a Home

HousingWire - September 12, 2019 | By Julia Falcon

“There were 52% of Millennial non-homeowners who wish they owned a home that said their income wasn’t enough; 54% of Gen Xers and 55% of Baby Boomers shared that same sentiment.”

Campaign 2020: How to Fix America’s Housing Policies

Brookings - September 10, 2019 | By Jenny Schuetz

“At this stage in the campaign, details of the candidates’ housing proposals are less important than whether they are correctly identifying critical problems and the underlying causes.”

122 Degrees for Days: The Looming Phoenix Heat Wave That Could Harm Thousands

Vox - September 9, 2019 | By Umair Irfan

“Our ability today to anticipate dangerous future weather creates an opportunity to reconcile with where we let people build, how we manage vegetation that could burn, and whether we replace more trees and soil with heat-magnifying concrete.”

The Cities Where Job Growth Is Outpacing New Homes

CityLab - September 9, 2019 | By Sarah Holder

“Coastal metros are building more multi-family units than in the past, but it's still not enough. Meanwhile, in some Sun Belt metros, new building outpaces jobs.”

Here’s Who Owns the Most Land in America

Bloomberg - September 6, 2019 | By Dave Merrill, et. al.

“The top 10 individuals and families, who collectively control almost as much land as lies in West Virginia, include several timber and ranch dynasties plus a few famous billionaires.”

Rochester, Buffalo and Hartford Least at Risk of a Housing Downturn in the Next Recession

Redfin - September 6, 2019 | By Tim Ellis

“In all but the 2007-2009 Great Recession, inflation-adjusted home prices only declined an average of 2.7 percent from the month before the recession began to the final month of the recession.”

Where Do Renters Have an Edge in the Pursuit of Homeownership?

First American September 5, 2019 | By Odeta Kushi

“Median household income includes existing homeowner households, which have significantly higher median income than renter households, so it skews affordability measures.”

The Commuting Principle That Shaped Urban History

CityLab - August 29, 2019 |By Jonathan English

“In general, people have always been willing to commute for about a half-hour, one way, from their homes each day.”

More People Are Leaving NYC Daily Than Any Other U.S. City

Bloomberg - August 29, 2019 | By Wei Lu, Alexandre Tanzi

“New York leads all U.S. metro areas as the largest net loser with 277 people moving every day -- more than double the net exodus of 132 just one year ago. Los Angeles and Chicago were next with triple digit daily losses of 201 and 161 residents, respectively.”

Housing Market Cooldown Reaches Longest Streak Since 2009

CoreLogic - August 28, 2019 | By Ralph McLaughlin

“Home prices in Seattle dropped for the third month in a row, while San Francisco inches closer to seeing its first home price drop since 2012.”

Overseas Investors Turn Net Sellers of US Real Estate in H1

Real Capital Analytics - August 28, 2019 | By Jim Costello

“The decline in acquisitions is not a sign of a whole class of investors writing off the U.S. Rather, the high-ticket price deals that these investors pursue are becoming more challenging to execute.”

Phoenix Votes Down Proposition 105, Keeping Light Rail Alive and Well

CoStar - August 28, 2019 | By Jessica Morin

“The special election resulted in 62% of voters turning down the measure in the initial count, a move that supports future light rail expansion.”

Things to Do in New York City

Griefbacon - August 28, 2019 | By Helena Fitzgerald

“When you get older, tell these stories as though the something you waited for had actually happened and been happening at all times, as though the absent center had been some significance on which you could place your hands.”

See also: My Typical New York Day

Many U.S. Households Do Not Have Biggest Contributors to Wealth: Home Equity and Retirement Accounts

U.S. Census Bureau - August 27, 2019 | By Jonathan Eggleston, Donald Hays

“Wealth inequality between homeowners and renters is striking: Homeowners' median net worth is 80 times larger than renters' median net worth.”

Midyear 2019 Top Markets for Rent Growth

Arbor Chatter - August 26, 2019 | By Matt Maison

“A closer look at the top-performing markets over the last 12 months, as measured by rent growth, shows some familiar strong performers as well as some newcomers.”

How Feist’s ‘1234’ Turned Into a ‘Sesame Street’ Blockbuster

The New York Times - August 22, 2019 | By Melena Ryzik

“The “Sesame” version of the song, released in 2008, has over 240 million YouTube views; the original has about 13 million.”