Tuesday, August 31, 2010
That's what the Calculated Risk blog is calling for in this recent post.
I agree with much of the analysis as artificially propping up house prices is like drinking a Red Bull instead of getting better sleep every night--it can work in the short term but the longer term crash is hard and bad.
Now if this call for letting prices fall does occur, then the effects on local land use policies will be interesting to follow. More renovation, less new building. Increased rehabs, decreased new construction.
Though Planning Commission hearings may get shorter (less rezoning, fewer development plans and plats), one could envision Board of Zoning Adjustment hearings getting longer as more people seek variances and special exceptions to modify what they currently have.
Need a larger house but can't afford one (or can't get another mortgage until you sell your current house)...then maybe a variance to allow you to add another bedroom or two by building into that setback could be your answer...
That's the scenario that falling house prices is likely to instigate. Is that a good thing or not?
Whatever your answer, this is certainly an interesting time to be a land planning and development prof...
--Chad Emerson, Faulkner U.
This blog is an Amazon affiliate. Help support Land Use Prof Blog by making purchases through Amazon links on this site at no cost to you.
- Jamie Baker Roskie on Uber Goes to the State House Seeking Preemption of Local Government Control
- Stephen R. Miller on Why are building inspectors so often on the take?
- Josh Hightree on What makes people leave rural areas, and what makes them stay
- Jessica Shoemaker on What makes people leave rural areas, and what makes them stay
- Jamie Baker Roskie on Why are building inspectors so often on the take?
- What to make of the fierce new debate over the efficacy of California's energy codes?
- The W&L Top 100 Law Review Rankings and the Land Use Law Scholar
- CFP: 2015 Future of Places Conference (lead-in to Habitat III) in Stockholm: Deadline of April 15
- Water Down Under: A Report from Australia by Barbara Cosens: Post 7: Conjunctive Management Down Under
- Interior unveils final rule governing fracking regulations on public lands