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Document Type: | General |
Publish Date: | May 2016 |
Primary Author: | Graham MacDonald |
Edited By: | Arsalan Hasan |
Published By: | Graham MacDonald |
Housing Production is Important From 2010 to 2015, there were 6 times as many new jobs and people as new housing units in the Bay Area, and home prices rose by 54% over this period. In the most recent year – 2015 – little has changed – 6 jobs and 4 new people were gained for every new housing unit, while home prices rose faster than in previous years1. To accommodate this growth, cities can change local policies to encourage housing production. In consultation with many developers, city planners, politicians, and advocacy groups, I created two models that summarize the relative impact different local policy measures have on housing production. I then weigh the models’ results against potential equity, administrative, and political concerns. The first model describes the effects on the odds that a given project will be built, while the second examines the cumulative impact on an entire city in four local jurisdictions. Examining the effect on every developable parcel in a city represents an improvement over existing feasibility models, which typically focus on a few example sites in a given city. And because many cities do not complete feasibility analyses, pay large sums of money to complete them, and/or produce long, complex reports, providing a transparent, open resource for policymakers can improve local decision making.