A morning roundup of the day’s news.
The costs of unaffordable housing: Skyrocketing housing prices aren’t just a local problem for U.S. coastal cities, but a national economic crisis, as restrictive land-use regulations and accompanying NIMBYism smothering wage and GDP growth. From a New York Times op-ed:
More housing in a region like Silicon Valley or Boston would raise the income and standard of living of American workers across the nation. The cost for the country of too-stringent housing regulations in high-wage, high-productivity cities in forgone gross domestic product is $1.4 trillion. That is the equivalent of losing New York State’s gross domestic product.
Because of the prohibitive cost of housing caused by these regulations, innovative companies in Silicon Valley and Boston do not grow as much as they could, and new businesses do not get created. This means slower economic growth, fewer jobs and lower wages across the nation.
High alert: With Hurricane Harvey’s devastation still top of mind, Miami is now in emergency mode for Irma—closing schools, setting up shelters, and starting evacuations for the Category 5 storm that may hit this weekend. (CNN)
In praise of the auto boulevard: A writer for Next City applauds the recent pedestrian-friendly improvements to Philadelphia’s go-to events space—the Benjamin Franklin Parkway—while still revering its historic function as a grand driving boulevard.
Bike-share mayhem: Shared bikes have become ubiquitous throughout urban China, but the city of Wuhan is now banning them due to the unregulated “chaos” of thousands of bikes dumped or discarded in crowded public spaces. (Business Insider)
Stats of the day: A typical “Dreamer” lives in Los Angeles and came to the U.S. from Mexico at age 6, according to the statistics on DACA. (New York Times)
The urban lens:
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