Shifts in the Housing Market & the YIMBY Movement | Salim Furth

Manhattan Insights

The pandemic transformed urban housing markets, prompting increased demand for residential space and spurring a shift toward remote work. Many remote employees have left large cities for smaller ones, but housing demand remains strong in major urban centers. As cities' populations fluctuate, the pro-development YIMBY (Yes In My Backyard) movement has gained momentum with supporters advocating for more residential construction to bring down housing costs in major cities.

Judge Glock and Salim Furth discuss the pandemic's impact on housing and cities, touching on urban density's appeal in the time of remote work, heightened interest in suburban living, the value of city amenities, and the YIMBY movement's efforts to address housing affordability. They explore the need to expand the national housing supply, the advantages of building up versus building out, and who might benefit from upzoning. They also examine the motivations of NIMBYs (Not In My Backyard) who oppose infrastructure development, and the importance of fiscal incentives in promoting residential construction.

Salim Furth is a Senior Research Fellow and Director of the Urbanity project at the Mercatus Center at George Mason University. His research focuses on housing production and land use regulation. He frequently advises local governments and testifies before state and federal legislatures. He earned his Ph.D. in economics from the University of Rochester.

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*Related reading*

https://twitter.com/judgeglock/status/1767575049517625449

https://www.bloomberg.com/news/articles/2024-03-07/at-austin-s-yimbytown-fans-of-zoning-reform-seek-common-ground

https://manhattan.institute/article/the-perfect-storm-hitting-homebuyers

https://www.mercatus.org/scholars/salim-furth