inspiral + property   64

Airbnb Plays a Minuscule Role in Rising City Rents - Bloomberg
The increase attributable to the short-term rental service is so small you almost can't see it.
Airbnb  property  gentrification  economics  research  review  author:NoahSmith  Bloomberg  2018 
april 2018 by inspiral
Yup, Rent Control Does More Harm Than Good - Bloomberg
Economists put the profession's conventional wisdom to the test, only to discover that it's correct.
property  realestate  rent  rentcontrol  review  research  author:NoahSmith  Bloomberg  2018 
january 2018 by inspiral
Land Is Underrated as a Source of Wealth - Bloomberg
But even with somewhat different numbers, the broad lesson would be clear -- over the long term, housing has been a great investment. That doesn’t mean that investors should ditch their stocks and run out to buy houses -- liquidity is a real issue, property taxes are substantial and it’s harder to diversify a real estate portfolio than a stock portfolio. But it does mean that a wise investor should diversify into land by buying things like real estate investment trusts.

The more important implication, however, is for inequality. To some degree, housing acts as an equalizer between the rich and the middle-class, since the latter puts more of its wealth into real estate by virtue of buying homes. But many big landlords are very rich. And homeownership is a way that the middle class and upper-middle class pull away from the working class and poor, a larger portion of which can't afford to buy and must rent. The ownership disparity is also responsible for a big share of the racial wealth gap. As economist Matt Rognlie has found, the return to land is responsible for the lion’s share of the increase in wealth inequality documented by French economist Thomas Piketty.

So in order to address wealth inequality, it’s important to focus on land. Even after the rise of the modern corporate economy, unequal ownership of the most basic and ancient asset of them all is still creating big divisions in our society.
property  investment  realestate  advocacy  wealth  incomeinequality  author:NoahSmith  Bloomberg  2018 
january 2018 by inspiral
New York's vanishing shops and storefronts: 'It's not Amazon, it's rent' | Business | The Guardian
“It’s not Amazon, it’s rent,” says Jeremiah Moss, author of the website and book Vanishing New York. “Over the decades, small businesses weathered the New York of the 70s with it near-bankruptcy and high crime. Businesses could survive the internet, but they need a reasonable rent to do that.”

Part of the problem is the changing make-up of New York landlords. Many are no longer mom-and-pop operations, but institutional investors and hedge funds that are unwilling to drop rents to match retail conditions. “They are running small businesses out of the city and replacing them with chain stores and temporary luxury businesses,” says Moss.
NewYork  retail  realestate  property  decline  gentrification  pricing  review  critique  USA  Guardian  2017 
december 2017 by inspiral
Will the death of US retail be the next big short?
The relentless rise of online shopping is posing a huge challenge for US shopping malls, developers and investors who own shares and bonds in household names. The core problem is a dramatic overbuilding of stores, coupled with the rise of ecommerce, Richard Hayne, Urban Outfitters’ chief executive, told analysts on a conference call earlier this year. “This created a bubble, and like housing, that bubble has now burst,” Mr Hayne said. “We are seeing the results: Doors shuttering and rents retreating. This trend will continue for the foreseeable future and may even accelerate.”

The impact is far-reaching. Credit Suisse estimates that as many as 8,640 stores with 147m square feet of retailing space could close down just this year — surpassing the level of closures after the financial crisis and dotcom bust. The downturn is hitting the largely healthy US labour market — the retail industry has lost an average of 9,000 jobs a month this year, according to the Bureau of Labor Statistics, compared with average monthly job gains of 17,000 last year.
retail  bricksandmortarretail  review  decline  valuation  Amazon  ecommerce  property  USA  FinancialTimes  2017 
july 2017 by inspiral
D.C.’s latest twist on upscale urban living: A dorm for grown-ups in a historic mansion - The Washington Post
The latest entry in the urban rental market is not a tiny apartment in a hip neighborhood. It’s a tiny apartment in a historic mansion with like-minded housemates looking to connect with one another. In the platonic sense, of course.
Ampeer  trends  accommodation  property  WashingtonDC  USA  WashingtonPost  2017 
july 2017 by inspiral
How Homeownership Became the Engine of American Inequality - The New York Times
Almost a decade removed from the foreclosure crisis that began in 2008, the nation is facing one of the worst affordable-housing shortages in generations. The standard of “affordable” housing is that which costs roughly 30 percent or less of a family’s income. Because of rising housing costs and stagnant wages, slightly more than half of all poor renting families in the country spend more than 50 percent of their income on housing costs, and at least one in four spends more than 70 percent. Yet America’s national housing policy gives affluent homeowners large benefits; middle-class homeowners, smaller benefits; and most renters, who are disproportionately poor, nothing. It is difficult to think of another social policy that more successfully multiplies America’s inequality in such a sweeping fashion.
housing  property  inequality  wealth  MortgageInterestDeduction  taxation  review  critique  USA  NYTimes  2017 
may 2017 by inspiral
The Great Retail Apocalypse of 2017 - The Atlantic
In the middle of an economic recovery, hundreds of shops and malls are shuttering. The reasons why go far beyond Amazon.
retail  decline  ecommerce  mobilecommerce  Amazon  property  restaurants  experiential  trends  USA  TheAtlantic  2017 
april 2017 by inspiral
Emerging Consumer Survey 2017
The top three of this year's Emerging Consumer Survey are India, Indonesia and China. On the other end of the spectrum are Russia, Turkey and Mexico. On top of providing a close look at the emerging markets, the report examines current trends of particular relevance to them, such as e-commerce, aware consumerism, and the growing popularity of domestic brands.
economy  consumerspending  mobile  disposableincome  property  health  diet  food  drink  ecommerce  mobilecommerce  smartphones  localism  Indonesia  Brazil  SouthAfrica  Mexico  India  Russia  China  Turkey  CreditSuisse  2017 
april 2017 by inspiral
Rents in Megacities Can't Go Up Forever - Bloomberg View
The importance of the megacities is hardly going away. But neither do we face a future where the expense of living in these cities simply will rise without limit.
cities  property  prices  geography  megalopolis  NewYork  London  SanFrancisco  SiliconValley  review  author:TylerCowen  Bloomberg  2017 
march 2017 by inspiral
Why America's Restaurant Industry Is in a Bubble About to Burst - Thrillist
What we're witnessing, as you see this rise of both the high and low end, is the hollowing out of the restaurant industry center -- the gentrification of food, carried to its logical conclusion. You had something that was interesting and a great value, it attracted everyone, and now all that's left until a rebirth is extravagance or thrift.
restaurants  bifurcation  trends  cost  employment  property  Thrillist  2016 
january 2017 by inspiral
Foot traffic is down at Trump properties since he launched his campaign - Oct. 14, 2016
Trump-branded hotels, casinos and golf clubs had about 16% fewer visits in September compared to a year ago. In fact, the properties have posted a year-over-year decline in foot traffic of about that much every month since March. Foursquare uses the location data it collects from people using its Foursquare and Swarmm apps to make these estimates.
DonaldTrump  Foursquare  locationbasedservices  property  USA  sexism  CNN  2016 
october 2016 by inspiral
How to fix London real estate problems - Marginal REVOLUTION
London is a bit of a perfect storm: (i) restrictive planning regimes, preventing the building of new homes; (ii) a strictly-enforced “green belt”, limiting the physical expansion of the city; and (iii) huge inflows of both people and capital (both foreign and domestic, in the form of buy-to-let investors) driving up demand.

The average London house price passed £500,000 last November ( and average rents for a 1-bedroom flat now exceed £700/month (

Various policy responses have been proposed, including:

raising stamp duty (tax on the purchase of a home – the UK government recently raised rates on homes worth more than £500,000, and introduced punitive rates on purchases of second homes);
raising council tax (property tax – where a property is rented, this is paid by the tenants);
“bedroom taxes” on unused bedrooms (currently in place for social housing);
increasing taxes on private landlords (the UK government recently removed the ability of landlords to deduct mortgage interest, and capped deductions for repairs);
loosening planning restrictions and taking other actions to combat NIMBYism;
building on the green belt;
deposit assistance for first-time buyers (the UK government currently underwrites mortgages of up to 95% LTV for first-time buyers for properties worth up to £600,000 and has introduced savings accounts where the government adds 25% to savings used to purchase a new home, contributing up to £3,000);
punitive taxes on unused planning permission;
direct price controls;
restrictions on foreign ownership of property; and
increasing interest rates.
property  realestate  prices  critique  policy  review  gentrification  London  MarginalRevolution  2016 
june 2016 by inspiral
How The Technology Behind Bitcoin Is Going To Change The Lives Of The Bottom Billion | Co.Exist | ideas + impact
The blockchain is coming—and it's going to create huge benefits for the world's poorest people, from financial access to property rights to controlling their identities.
blockchain  innovation  opportunity  payments  property  remittances  supplychain  aid  identity  sharingeconomy  review  FastCompany  2016 
march 2016 by inspiral
Why Jersey City is the New Brooklyn |
With a variety of lively, singular neighborhoods and close proximity to Manhattan, Jersey City already boasts several parallels with the borough of Brooklyn. Though it cannot yet compete in terms of culture and “street cred,” developers are rushing to construct tens of thousands of new, affordable residential properties, hopping on the newest fashionable real estate bandwagon while it is still hot. What this means is that it is certainly the right time to move to Jersey City. Housing prices are lower across the board than in most sections of Brooklyn—and certainly anything in Manhattan—and the options for condos, rental apartments and even entire houses are multiplying by the day. And people are starting to take notice. An increasing influx of residence—according to the most recent US census data, the total number of residents increased by six percent between 2010 and 2014— revitalizing the cultural and social scene, and many more people are expected to soon follow. With all of this in mind, it would not be a surprise if in the next few years we find fewer people moving to New York City altogether, and many more looking to the exciting reborn metropolis of Jersey City.
NewYork  Brooklyn  JerseyCity  gentrification  urbandevelopment  realestate  property  review  NewGeography  2016 
march 2016 by inspiral
San Francisco's Fog Over Growth - Bloomberg View
The past is not an option. Going forward we can become either a big city, or else a highly exclusive gated community for the rich. For homeowners this is an academic question, because as owners, nothing can make them move. For renters and all new entrants (your children) this question is over whether we live in the Bay Area or not. There are 2x as many people who want to live here than do live here. The current “character” of SF isn’t very useful to people who can’t live here.
SanFrancisco  property  realestate  critique  Bloomberg  2016 
january 2016 by inspiral
San Francisco's Housing Activists Are Making the City More Expensive - The Atlantic
Tech companies and workers are vilified while longtime homeowners who fight high-density growth continue to profit from rising rents and property values.
SanFrancisco  property  gentrification  review  urbandevelopment  TheAtlantic  2015  housing 
december 2015 by inspiral
Airbnb’s worst problems are confirmed by its own data | The Verge
But a review of the data by The Verge found that Airbnb's numbers, covering November of 2014 through November 1st of 2015, largely confirmed the attorney general's accusations. A small number of hosts renting out multiple listings took home a disproportionate amount of the total revenue. And while roughly 71 percent of hosts rented out their home for three months or less, there were still thousands of "whole units," meaning an entire house or apartment, which were rented for six months or more during the last year.

For example the number of hosts with three or more listings on the platform accounted for less than 2 percent of the total hosts on Airbnb in New York City during the time period covered by the data. Yet that group took home 24 percent of the total whole home revenue. And that only covers people who are openly renting multiple listings. The New York Times interviewed one Airbnb host who rented five units, but only one under his own name. He estimated his annual income from the platform at $500,000, far more than the $5,110 Airbnb highlighted as the median host income.
Airbnb  property  realestate  transparency  critique  NewYork  TheVerge  2015 
december 2015 by inspiral
5 Ways to Tell if a Co-Working Space is Right for Your Startup - ReadWrite
What's less structured than a business incubator and more community-oriented than executive suites? For an increasing number of startups, the answer is co-working spaces - where entrepreneurs rent desks, office space and access to office amenities by the hour, day or month. 
But how can you tell if a co-working space is the right solution for…
coworking  guide  property  ReadWriteWeb  2012 
november 2015 by inspiral
Evictions and Conversions: The Dark Side of Airbnb
How the popular matching company facilitates landlord conversion of entire rental buildings to de facto hotels. 
Airbnb  sharingeconomy  property  gentrification  eviction  critique  SanFrancisco  NewYork  Prospect  2015 
october 2015 by inspiral
Is Airbnb CEO Brian Chesky telling us the truth about his company? — Galleys — Medium
Brian Chesky and the rest of Airbnb’s executives and venture-capitalist backers seem to feel little responsibility for upending so many people’s lives. Their company is like a rumbling jetliner that flies low overhead, but doesn’t want to be blamed for its noise. They are either oblivious to their impact, or they have rationalized it away as the necessary collateral damage for their “sharing revolution.”
Perhaps the biggest tragedy in all this is that at the core of Airbnb is a really good idea–it has cleverly used Web- and app-based technology to bust open a global market that connects tourists with financially strapped homeowners. After interviewing some of Airbnb’s “regular-people” hosts, I’m convinced that this service legitimately does help some of them make ends meet. But by taking such a hands-off, laissez-faire attitude toward the professionalization of hosting by greedy commercial landlords and multiproperty agents, Airbnb has become its own worst enemy. As the number of victims piles up, it undermines its own “sharing and trust” ethos.
Airbnb  BrianChesky  profile  sharingeconomy  property  critique  author:StevenHill  Galleys  Medium  2015 
october 2015 by inspiral
WeWork Used These Documents To Convince Investors It's Worth Billions - BuzzFeed News
What the $10 billion co-working company’s internal financial documents tell us about how a decacorn is built.
WeWork  results  venturecapital  investment  review  critique  property  Buzzfeed  2015 
october 2015 by inspiral
WeParty Like It's 1999 - The Awl
In its prospective residential offerings as in its commercial product, WeWork’s core innovation—and the sharing economy’s writ large—seems to be not, in fact, in making things more affordable, but rather in coming up with new ways to obscure where the true costs lie.
WeWork  profile  review  sharedworkspace  property  realestate  Awl  2015 
october 2015 by inspiral
Crisis, what housing crisis? We just need fresh thinking | Simon Jenkins | Comment is free | The Guardian
Here are the most damaging myths about the policy issue that’s on everyone’s lips – and a few brutal realities
property  housing  review  London  critique  Guardian  2015 
october 2015 by inspiral
A Sprawl of Ghost Homes in Aging Tokyo Suburbs - The New York Times
Hidetaka Yoneyama, a housing specialist at the Fujitsu Research Institute, a think tank, said that until recently, homes in Japan were built to last only about 30 years, when they were then expected to be torn down and rebuilt. Building quality is improving, but the market for secondhand homes remains tiny. Developers are still building more than 800,000 new homes and condominiums a year, despite the glut of vacancies.

“In the high-growth era, everyone was happy with this arrangement,” Mr. Yoneyama said. But in 20 years, he calculated, more than one-quarter of Japanese houses could be empty. “Now the tables are turned. The population is declining and no one wants to live in these old houses.”
housing  property  ageingpopulation  ruinporrn  Japan  NYTimes  2015 
august 2015 by inspiral
With London's Affordability Crisis, a New Breed of Activism - CityLab
The city is grappling with major socioeconomic shifts by getting organized at an unprecedented scale.
gentrification  property  squatting  activism  London  CityLab  TheAtlantic  2015 
march 2015 by inspiral
Apple Gets Sweet Deals From Mall Operators
As a traffic magnet, iPhone maker is able to negotiate lower terms for rent
Apple  retail  property  pricing  WallStreetJournal  2015 
march 2015 by inspiral
The truth about property developers: how they are exploiting planning authorities and ruining our cities | Cities | The Guardian
Affordable housing quotas get waived and the interests of residents trampled as toothless authorities bow to the dazzling wealth of investors from Russia, China and the Middle East
property  urbandevelopment  London  localgovernment  regulation  socialhousing  critique  Guardian  2014 
december 2014 by inspiral
Why It's So Hard for Millennials to Find a Place to Live and Work - The Atlantic
Lots of graphs, lots of colors, but this is a pretty simple conclusion. The American Dream begins with a good job and place to live that you can afford. But today, those two halves of the American Dream are living apart. The good jobs and high wages are in unaffordable cities. The affordable homes cluster in the cities with lower wages and less upwardly mobile families.
socialmobility  employment  property  realestate  critique  USA  TheAtlantic  2014 
november 2014 by inspiral
Housing Affordability in China |
Finally, there is credible housing affordability data from China. For years, analysts have produced "back of the envelope" anecdotal calculations that have been often as inconsistent as they have been wrong. The Economist has compiled an index of housing affordability in 40 cities, which uses an "average multiple" (average house price divided by average household income) (China Index of Housing Affordability). This is in contrast to the "median multiple," which is the median house price divided by the median household income (used in the Demographia International Housing Affordability Survey and other affordability indexes). The Demographia Survey rates affordability in 9 geographies, including Hong Kong (a special administrative region of China). The average multiple for a metropolitan market is generally similar to the median multiple.
property  prices  comparison  affordability  HongKong  China  NewZealand  Australia  Singapore  UK  Canada  Japan  Ireland  USA  Shenzen  Beijing  Shanghai  Vancouver  Sydney  SanFrancisco  Melbourne  Nanjing  Auckland  Chengdu  London  Chongqing  Changsha  Hohhot  Tokyo  Dublin  Chicago  Atlanta  Economist  NewGeography  2014 
october 2014 by inspiral
Property bubble is ‘major risk to China’ -
To understand the scale of the resulting building boom, consider this statistic: in just two years – 2011 and 2012 – China produced more cement than the US did in the entire 20th century.
China  property  bubble  critique  FinancialTimes  2014 
august 2014 by inspiral
The Problem With Being Global |
The fundamental challenge: the global city must accommodate two identities, a global and a local one. A great global city must serve its international role as well as its local economy and the needs of its local residents. A city must be more than a fancy theme park or a collection of elite headquarter towers. It needs a middle and working class, not just the global rich and their servants. It needs families and ordinary residents who may rarely leave town, not just globe-trotters. It needs to be true to itself and the people who, in the first place, created it.
cities  global  critique  middleclass  property  employment  inequality  NewGeography  2014 
august 2014 by inspiral
The secretive billionaire who built Silicon Valley
How John Arrillaga Sr. transformed California fruit orchards into high-priced office space for the likes of Google, Apple, Hewlett-Packard, and Cisco.
SiliconValley  urbandevelopment  property  developers  JohnArrillaga  profile  Fortune  2014 
july 2014 by inspiral
Inside the human costs of San Francisco's tech revolution
I do not dismiss the value of hard work and good ideas or discredit the possibility of our favorite story, “rags-to-riches.” But I live in the building against whose walls a young boy sleeps, the walls that serve as a toilet for the man on the corner, and this is not a matter of merit. My soul is no more valuable, my body no more useful. In one sense, of course, the sleeping boy is not my brother but in another sense he is, or could be, and that’s the possibility that we, “the homed,” the billionaires and millionaires and builders of websites, might remember more often.
SanFrancisco  gentrification  homeless  property  inequality  critique  DailyDot  2014 
june 2014 by inspiral
Tim Harford — Article — Betting against London is tempting but no sure thing
The joke used to be that the typical London house was earning more than the typical London household. Today it is no longer a comic exaggeration.
London  urbandevelopment  gentrification  property  critique  TimHarford  2013 
november 2013 by inspiral

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