The photo above is a beautiful sight. No mere pile of dirt, the picture shows excavation for the foundation of a new house in a formerly vacant lot. Located at 1502 10th Street NW, the lot has been vacant at least as long as I’ve lived nearby (2 years) and most likely much longer. Although […]
District Bike Sharing Launches
The much-awaited D.C. bike sharing program SmartBike has launched with ten locations in Downtown and Midcity neighborhoods. The public can sign up at SmartBikeDC.com for a card enabling them to rent bikes for up to three hours from these stations between the hours of 6 a.m. and 10 p.m. The annual subscription costs $40. According […]
Subprime Mortgages and Race
The map to the right shows the overwhelming majority of subprime loans and foreclosures in New York City have been in minority neighborhoods. (Created by NEDAP via NY Times) The map tells an often-overlooked fact: the subprime crisis has hit minority neighborhoods harder than white ones. The banking industry sometimes claims the differences in lending […]
The Equity of Housing Tax Benefits
The wide-ranging housing bill recently passed by Congress includes a program to help homeowners avoid foreclosure, money for community development, and other measures. One of its important provisions is a one-time tax benefit of $7,500 (or 10% of the home’s purchase price, whichever is less). Unlike many of the existing tax benefits of home ownership, […]
NIMBYism, Urban Development, and the Public Involvement Solution
NIMBY (Not In My Back Yard) activists are one of the most important and least understood issues in contemporary American urban planning. A recent national survey found that roughly one-quarter of all Americans reported they or someone in their family has actively opposed a development project. Although opposition to development is widespread and use of […]
Preventing Another Subprime Mortgage Crisis
I think this article describes the origins of the mortgage crisis as good as any, and outlines the drawbacks of any bailout. However, I’m interested in the root of the problem. What can we do to minimize the number of foreclosures to begin with? First, a bit on where we are. Although hard facts are […]
Smart Grid Pilot Program Launched
Over 1,000 D.C. homes are now equipped with smart electrical meters that record their hourly electricity usage, encourage conservation during peak times, and even automatically turn down the heat or A/C when electricity is most expensive. The meters are part of a pilot program starting this week to study how “price signals” can encourage consumers […]