Urbanexus Update - Issue #24
Urbanexus Update - Issue #24
I strive to understand what creates opportunities—and challenges—for real estate investment and sustainable community development. Learn more about me here.
The economy and real estate
Growth in residential construction lending — eyeonhousing.org The volume of residential construction loans increased by 1.7% during the second quarter of 2018, marking 21 consecutive quarters of growth. Furthermore, recent
The cost of housing
House price index for USA — www.calculatedriskblog.com
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 6.2% annual gain in June, down from 6.4% in the prior month. The 10-City Composite annual increase came in at 6.0%, down from 6.2% in the previous month. The 20-City Composite posted a 6.3% year-over-year gain, down from 6.5% in the previous month.
What makes Portland's new apartments so expensive?
Where exactly does rent money go? This may also be the way to start answering: What, if anything, could governments do to make those rent checks smaller? Seattle-based Sightline Institute crunched the numbers and came up with nine ways to reduce costs.
Seattle dethroned as nation’s hottest housing market Las Vegas is now the nation's hottest housing market, overtaking Seattle, which had held the top spot every month since August 2016.
Seattle home prices compared to other metros and cities Despite the recent cooldown in the market, Seattle is now the third-most expensive city in the country to buy a home, behind San Francisco and San Jose. Just four years ago, Seattle was 10th.
The new high-rent districts in NYC Pricey New York City neighborhoods have seen some of the lowest rent increases since 2010, while recently gentrified areas have had the biggest ones.
Can infill address San Francisco’s housing affordability?
The city-by-the-bay is adding more jobs faster than it is adding housing by a factor of eight. Median house prices have risen $205,000 in the from January through July 2018. Rents are up 43% over the last decade. Where will it end?
Changing cities
Sunset Strip Hustler store to make way for Arts Club — archpaper.com
The London-based Arts Club’s new Gensler-designed California outpost has won planning approval from the City of West Hollywood.
The 132,000-square-foot mixed-use complex is partially backed by wellness impresario Gwyneth Paltrow and represents the latest members-only club establishment to take root in Southern California.
Homelessness
Backyard cottages for the homeless Of all the proposed solutions to Seattle’s homelessness problem, the Block Project is surely one of the most audacious. But one Seattle family is giving it a try, opening its heart—and backyard—to a homeless man. And more than 100 families are waiting in the wings.
More people live In vehicles — www.huffingtonpost.com Wealthy cities like Berkeley and Seattle are seeing a boom in people calling their cars and RVs "home."
Transportation
Traffic flow measured on 30 different 4-way junctions
Traffic flow measured on 30 different 4-way junctions validates the design of the design of the four-level stack interchange ("The Stack") in downtown Los Angeles that was completed in 1953
Urban design
The unbearable sameness of cities
What a journey across the United States taught Oriana Schwindt about indie cafés and Ikea lights.
Environment
Climate change deadlier, more destructive and costlier for California than previously believed
Heat waves will grow more severe and persistent, shortening the lives of thousands of Californians. Wildfires will burn through more of the state's forests and the ocean will rise higher and faster, causing billions in damage. These are some of the threats California faces from climate change. Among the most vulnerable communities:San Diego, Coronado, Imperial Beach and National City in San Diego County
San Diego, Coronado, Imperial Beach and National City in San Diego County
Huntington Beach, Seal Beach and Newport Beach in Orange County
Long Beach, Los Angeles and Malibu in Los Angeles County
Climate change has hit home prices
Between 2005 and 2017, increased tidal flooding erased $14.1 billion in relative home values across eight states, according to research by First Street Foundation, a Brooklyn-based nonprofit that seeks to quantify the effects of climate change on coastal communities.
Around the world
Malaysia says no to foreign homeowners in Forest City project — www.thisisplace.org
Malaysian Prime Minister Mahathir Mohamad said on Monday he wanted to prevent foreigners from buying residential units in the $100 billion Forest City project, a setback for the Chinese developer as it tries to revive faltering demand for the site.