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The Week Observed, January 12, 2024

What City Observatory did this week The pernicious myth of “Naturally Occurring” Affordable Housing.  One of the most dangerous and misleading concepts in housing reared its ugly head in the form a a new publication from, of all places, the American Planning Association.  The publication “Zoning Practice:  Preserving Naturally Occurring Affordable Housing” purports to offer

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The pernicious myth of “naturally occurring” affordable housing

Housing doesn’t “occur naturally” Using zoning to preserve older, smaller homes doesn’t protect affordability There’s no such thing as “Naturally Occurring Affordable Housing”–older, smaller homes become affordable only if supply and demand are in balance, usually because it’s relatively easy to build more housing. The parable of the ranch home shows that old, small homes

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The Week Observed, December 15, 2023

What City Observatory did this week Exaggerated Benefits, Omitted Costs: The Interstate Bridge Boondoggle.  A $7.5 billion highway boondoggle doesn’t meet the basic test of cost-effectiveness.  The Interstate Bridge Project is a value-destroying proposition:  it costs more to build than it provides in economic benefits Federal law requires that highway projects be demonstrated to be “cost-effective” in

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Exaggerated Benefits, Omitted Costs: The Interstate Bridge Boondoggle

A $7.5 billion highway boondoggle doesn’t meet the basic test of cost-effectiveness The Interstate Bridge Project is a value-destroying proposition:  it costs more to build than it provides in economic benefits Federal law requires that highway projects be demonstrated to be “cost-effective” in order to qualify for funding.  The US Department of Transportation requires applicants

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