Wednesday, July 16, 2008

Ed Glaeser is Pro-Houston

Housing will soon be a pinch more affordable around the country. For reasons perhaps related to humidity and housing supply regulation, Houston is an affordable city for the middle class seeking out the American Dream. In this editorial, Ed Glaeser contrasts New York City and Houston. If I'm reading this article correctly, it appears that Rice University should make Ed an offer. Ed Glaeser Celebrates Houston

2 comments :

spencer said...

I love the analysis that blame all the difference between housing cost in New York and Houston on zoning and ignores the point that NY has 3,228 housing units per square mile as compared to 266 in Houston.

So the point that density in NY is 1,212% of that in Houston has no impact on the cost of living.

Sure!!!

Anonymous said...

Did you miss this paragraph?

"Also, part of the reason is geographic: an old port on a narrow island can't grow outward, as Houston has, and the costs of building up — New York's fate, especially in Manhattan — will always be higher than those of building out."

This was actually shortened from the full article's treatment of density:

"Why is it so much more expensive in New York? Part of the reason is admittedly geographic: an old port on a narrow island can’t grow outward, as Houston has, and the costs of building up--New York’s fate, especially in Manhattan--will always be higher than those of building out. But there are places in the U.S. that look geographically like Houston but are as unaffordable as Manhattan--San José, California, for instance. And there are places that look more like Manhattan but are priced more like Houston: high-rise Chicago is a lot more affordable for middle-income people than is high-rise New York. These gaps tell us that housing prices mirror government policies as well as natural geography."

Ed Glaeser