Housing

According to an October 21, 2018 Los Angeles Times article, experts “agree that the fundamental issue underlying the state’s housing crisis is that there are not enough homes.” In contrast, according to the article, is that “the public doesn’t believe it.” Only 13 percent of registered voters cited “too little homebuilding” as a principal reason for California’s housing unaffordability, in a USC/Dornsife Los Angeles Times poll.  read more »

Is the California Dream unraveling? Joel Kotkin and Marshall Toplansky warn how California is headed towards an increasingly feudal future in their latest report, "California Feudalism: The Squeeze on the Middle Class." Click the PDF link below to read the full study.  read more »

America is becoming less mobile than in the past, but there are some major metropolitan areas --- and areas within them --- that have fewer people move in and out than others. US households tend to live longer in their present residences where population growth has been more modest. The data also indicates that across all major metropolitan areas, households tend to have lived longer in suburbs and exurbs than in the urban core.  read more »

In the imaginations of its boosters, and for many outside the state, California is often seen as the role model for the future. But, sadly, California is also moving backward toward a more feudal society.

Feudalism was about the concentration of wealth and power in a relative handful of people. Historically, California created fortunes for a few, but remained a society with enormous opportunity for outsiders, whether from other states or countries.  read more »

Here’s the ubiquitous American landscape with a dash of central New Jersey local color. It’s not the rain and dark skies that make it look so bleak. No amount of sunshine can brighten this much asphalt, synthetic stucco, and vinyl siding. There’s no point in complaining about any of it. It exists and will continue to do so for the duration. Shrug.  read more »

There’s a literary trope in which an ambitious young man goes to work in the mines for a few years to earn an income with which to go back home. In the US it’s bundled into narratives of the Wild West (where incomes were very high until well into the 20th century), but it also exists elsewhere. For example, in The House of the Spirits, the deuterotagonist (who owns an unprofitable hacienda) works in the mines for a few years to earn enough money to ask to marry a society woman.  read more »

In 1901 John D. Rockefeller of Standard Oil (now ExxonMobil) began purchasing hundreds of acres of land around the town of Lakewood, New Jersey an hour and a half south of New York. He then built a thirty bedroom, twenty bathroom country estate. Lakewood was a prosperous year round vacation destination complete with swimming, tennis, golf, and ice skating, as well as numerous hotels, fine restaurants, a theater, and many large elegant homes.  read more »

We may be celebrating — if that’s the right word — the tenth year since the onset of the financial crisis and collapse of the real estate market. Yet before breaking out the champagne, we should recognize that the hangover is not yet over, and that a new housing crisis could be right around the corner.  read more »

Recently a follower sent me an interesting e-mail. He said he recently re-read The Organization Man by William Whyte, originally published in 1956. The suburban Chicago village of Park Forest, IL, about 30 miles directly south of the Loop, figured prominently in the book, as an example of the kind of Levittown-style suburban development that was taking America by storm at the time. In checking in about Park Forest today, he found that yesterday’s model of white middle class and middle management homogeneity is now a black-majority community.  read more »

The collapse of Lehman Brothers 10 years ago today began the financial crisis that crippled and even killed for some the American dream as we had known it. Donald Trump might be starting to change that, at least for Americans who aren’t determined to remain in our bluest and priciest cities.  read more »