One of the points made by William Fischel in his writings about zoning and NIMBYism is that the impetus for this behavior comes from homeowners trying to safeguard the value of their investment. Per Fischel, since most homeowners’ entire savings are locked up in one risky asset, they are risk-averse when it comes to any neighborhood change, leading to NIMBYism. Renters are more flexible.
Source: Pedestrian Observations
Austin is the only major growing city in the United States that is losing African Americans. Eric Tang, associate professor in the Department of African and African Diaspora Studies, was intrigued by this fact, as well as the ways in which Jim Crow segregation and neo-liberal gentrification converge here in what he describes as a “unique and intense” way. As he explains in an interview with Caroline Pinkston for an upcoming episode of the Humanities Media Project podcast Life of the Mind:
Source: Life & Letters Magazine
The overall U.S. housing market has recovered from the crisis that plunged the country into recession. But a new analysis by The Washington Post shows that the recovery has been deeply uneven, creating winners and losers along lines of race, income and geography.
Find out here if your home is a winner or a loser.