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
If the next president wants to find a way to jump start innovation and entrepreneurship, consumer spending, the housing market, and yes, the creation of jobs, focusing on policy areas that strengthen America’s cities is a no-brainer, regardless of party affiliation. (Or at least, it should be.)
And so below you’ll find eight of our favorite federal urban policy ideas, gathered in advance of Tuesday’s election results, that we now hope someone on President Obama’s team will print out and tape to their forehead.
Source: The Atlantic Cities.