YIMBY: Low-Income Housing

November 25, 2016 | 2:02 pm | trulialogo | Infographics |

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The YIMBY (Yes-In-My-Backyard) movement is fairly new.

In the United States, early leaders of the YIMBY movement include Sonja Trauss in San Francisco and Nikolai Fedak in New York. The first ever Yes In My Backyard conference was held in Boulder, Colorado, in June 2016.

Nikolai has done an amazing job at chronicling the explosion of new development in NYC over the past several years with his must read web site New York YIMBY.

One of the misconceptions with the NIMBY movement which is largely the opposite of YIMBY is the idea/rule of thumb that low-income housing always drags down property values of nearby properties. In an era challenged by the lack of any type of affordable housing, this makes a bad situation worse.

According to this recent research by Trulia (FYI – I was part of their industry advisory board from 2006-2014), and notably in aggregate form, the impact seems to be non-existent in the majority of the markets covered. One can’t conclude there is no impact as a general rule but it does show that should not be the default assumption.

The above infographic is from this Weekend’s New York Times’ real estate section column called ‘Calculator’ – Low-Income Housing: Why Not in My Neighborhood?. The methodology used in the Trulia research was the following:

To measure this, Trulia compared the median price per square foot of nearby homes (within 2,000 feet of low-income housing) with that of homes farther away (2,001 to 4,000 feet) over 20 years, starting 10 years before the low-income housing was built and ending 10 years after.

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The Relationship Between Commute Time and Housing Prices

October 28, 2016 | 3:48 pm | nytlogo | Infographics |

Back in the mid 1990s after my wife and I moved to Fairfield County, Connecticut from Manhattan, I noticed the decline in housing prices further from the first express stop in Stamford, CT.

I worked on an updated version of the concept for this weekend’s New York Times Real Estate section: What’s Your Commute Time Worth? They did an amazing job on the graphic.

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NYT Real Estate Calculator: NYC Rents Go Graphic

October 9, 2016 | 8:49 am | nytlogo | Infographics |

I’m liking the new goodies in the New York Times real estate section, especially this week, and not because the most recent market report on the Manhattan, Brooklyn and Queens rental market for Douglas Elliman was featured.  No, really.

See for yourself.

 

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[Infographic] NAR gets into the Urbanization Conversation

September 1, 2015 | 10:12 am | trulialogo | Infographics |

The National Association of Realtors, who is generally viewed as emphasizing suburban single family housing markets, may be plotting a new course. NAR will be sharing more releases on the topic of urbanization in the coming months. They look to be taking the same path as Realtor.com, the online entity who licenses their name from the NAR mothership. Realtor.com has cleaned up their act and has been much more focused on city life after their recent purchase by News Corp (through Realtor.com’s parent company Move), trying to become relevant again by emulating Zillow and Trulia. And of course, the consumer wins.

It’s a good thing too since urbanization is one of the most important housing trends (affordability aside) facing the housing market going forward.

Here’s an interesting infographic released by NAR today:

NARurbanismInfographic

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Infographic: 25 Year Demise of the Bank Appraisal Industry and the Rise of AMCs

May 31, 2015 | 8:05 pm | Infographics |

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I thought I’d build a visual representation of the decline of the appraisal industry – sort a flow chart, but really an excuse to use different colored shapes and sizes. This is a work in progress so please feel free to let me know what I’ve missed, which presumably is an infinite amount of detail.

Open the timeline as pdf.

UPDATE – Fixed a few typos and grammar weirdness in graphic.

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Bloomberg View Column: What Does It Mean When a House Sells for $50 Million?

September 17, 2014 | 2:58 pm | BloombergViewlogoGray | Articles |

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Read my latest Bloomberg View column What Does It Mean When a House Sells for $50 Million?. Please join the conversation over at Bloomberg View. Here’s an excerpt…

One of the byproducts of the global financial crisis has been the creation of a new class of housing and buyers. Some of the strongest evidence is the rise in the number of residences sold for more than $50 million. A buyer recently paid a record $71.3 million for a Manhattan co-op, breaking the $70 million record set only a few months earlier. These sales seem modest compared with a $147 million sale in East Hampton, New York, and a $120 million sale in Greenwich, Connecticut, the two highest U.S. residential transactions in 2014. There have been six sales of more than $100 million in the past four years, with more likely to come…

[read more]

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[Infographic] Manhattan and Brooklyn Rents Continue to Rise

May 17, 2014 | 8:55 pm | delogo | Infographics |

Here’s the latest infographic from Douglas Elliman covering the Manhattan & Brooklyn rental market reports for April 2014.

April2014 Manhattan Brooklyn Rentals


[Infographic] 1Q14 Hamptons Snaps Back from Fiscal Cliff Lull

April 24, 2014 | 12:34 pm | delogo | Infographics |

Douglas Elliman created another infographic for the Elliman Report series. This time it covers the 1Q14 Hamptons Sales Report that we author.

1q14infographicelliman-hamptons


[Infographic] Getting Graphic in South Florida in 1Q 2014

April 18, 2014 | 4:30 pm | delogo | Infographics |

Here’s a jumbo infographic from Douglas Elliman covering the findings of the four market reports in South Florida we prepare for them. Thank goodness Matrix can handle super tall images.

1q14infographicelliman-florida


[Infographic] Looking at the Manhattan and Brooklyn Rental Markets 3-2014

April 10, 2014 | 12:00 pm | delogo | Infographics |

Entering the world of infographics, here are some highlights from our just released Elliman Report: Manhattan & Brooklyn Rentals 3-2014

ManhattanBrooklyn3-14INFOGRAPHIC


[Infographic] Manhattan Sales Market 1Q14

April 1, 2014 | 5:28 pm | delogo | Infographics |

Here’s our first professional infographic of my market research for Douglas Elliman. It covers the just released Elliman Report: Manhattan Sales 1Q 2014. Here was my recent attempt at a hand-made infographic covering another topic using Excel.

Manhattan Market Report Infographic


[Leverage] Calculating Your Home Investment Return Realistically

March 16, 2014 | 9:00 am | Infographics |

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I think many, if not most people calculate the return on their home as an investment as this CNN/Money calculator does. After seeing this, I whipped up a theoretical infographic illustrating how the use of leverage in a home purchase factors in to your return. It’s super simplistic, not factoring in opportunity cost, use and enjoyment, tax deductions, improvements and other factors because I wanted to show the power of leverage.

Forget about price indices like Case Shiller or similar. I can’t tell you how many times I have seen a home price index paired up against a stock price index as a way to determine which investment is better. Apples and oranges.

Measure your ROI using what you invested (down payment) and what your home equity expanded (or contracted) to.

The CNN/Money rate of return calculator is really only a measurement of home price appreciation compared to the same period for stocks and bonds as an opportunity cost – comparing different asset types side by side – yet that’s not how the majority of homebuyers interact with their home as an investment.

It’s most often about leverage.

UPDATE
An appraisal colleague and friend of mine pointed out that in my original version, I incorrectly used the word “profit” within the infographic rather than what I was actually talking about: “equity” ie return on investment (ROI) – how much the original down payment gained over time. The numbers all remained unchanged.

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