Coming to the US Measuring Housing Affordability Median Multiple Median House PriceMedian Household Income Used by UN OECD and others Median Multiple Price to Income Ratio INTERNATIONAL1980s2000s ID: 649375
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Slide1
Britain’s Declining House Sizes
Coming to the US?Slide2
Measuring
Housing
Affordability:
Median
MultipleMedian House Price/Median Household Income(Used by UN, OECD and others)Slide3
Median Multiple (Price to Income Ratio)
INTERNATIONAL:1980s-2000sSlide4
Data from
Royal Institute
of British
Architects
New House Size: US & UK2009UnitedStatesUnitedKingdomSlide5
House Size Decline: United Kingdom
1920 COMPARED TO 2009
1920
2009
Data fromRoyal Instituteof BritishArchitectsSlide6
Terraced
(Town House)Slide7
Semi-Detached
(2-Family House
or Duplex)Slide8
DetachedSlide9Slide10
World War I:
Ypres (Belgium)Slide11
British War
Cemetery: Ypres
British War Fatalities
1 Million (2.5x WW20Slide12
David Lloyd George
Prime Minister
1917-1922
Homes fit
for heroesSlide13Slide14
Suburban LondonSlide15Slide16
The ResultSlide17
Elitist Disparagement (Interwar)
An affront to the eye
‘slums of the future
1938: “their destruction was ‘an eventuality that does much to reconcile one to the prospect of aerial bombardment’.
…the new style of homes represented 'something worse than the meanness of poverty - the meanness of spirit'Slide18
World War II:
St. Paul’s (London)Slide19Slide20
Winston Churchill
Prime Minister
1940-1945
1951-1955Slide21
Post World War II
Clement Atlee, Prime Minister
1945-1951: With Truman & Stalin Slide22
Town & Country
Planning Act: 1947
Green BeltsSlide23
Post World War II
Council HousesSlide24
Post World War II
Council HousesSlide25
Sir Peter Hall
UrbanologistSlide26
Margaret Thatcher
Prime Minister
1979-1990Slide27Slide28Slide29
Barker
Reports
… to reduce the long-term trend in house price increases to 1.1% a year –compared with the current rate of more than 9% a year – would require 260,000 homes to be built annually. Since then, an average of just 115,000 homes have been built in the private sector each year. Slide30Slide31
Post World War II: US
HOME OWNERSHIP INCREASE
Levittown (NY):
Birthplace of the
American DreamSlide32
Lakewood, California
(Los Angeles Area)Slide33
From Census Bureau
Home Ownership Rate: 1900-2013
UNITED STATES AVERAGE
Figure
33Slide34
U.S. nationally syndicated newspaper columnist Neal Pearce implied that the Columbine High School massacre, was caused by urban sprawl.
Suburban bankruptcy predictions
Faceless estates. Soulless financial districts.
Elite DisparagementSlide35
Housing Affordability 1950-2012
MAJOR US METROPOLITAN AREAS: MEDIAN MULTIPLE
Median Multiple: Median House Price divided by Median Household Income
Figure 35Greater PriceVolatility Slide36
$550,000 (2007)
Houston Exurbs
(Katy)
4,500 square feet
Lot: 0.4 Acre$550,000 (2007)Los Angeles Exurbs(Simi Valley)1,700 square feetLot: 0.1 AcreSlide37
MANILA SICK
Priorities are
WrongSlide38
Why did people move to the cities?
Not light rail, good urban planning
To have better lives
Yet urban planning is
Reducing the standard of living and increasing poverty
Need to replace policy based on means (inputs)
To policy based on ends (Outputs)
Maintain the standard of living & reduce povertySlide39
Anti-Smart Growth Government Re-elected
NEW ZEALAND SEPTEMBER 20, 2014
David Seymour