Friday, April 16, 2010

Immigrants in work force contributing factor to urban growth: new study finds

From the New York Times, April 15, 2010:

In 14 of the 25 largest metropolitan areas, including Boston, New York and San Francisco, more immigrants are employed in white-collar occupations than in lower-wage work like construction, manufacturing or cleaning.

The data belie a common perception in the nation’s hard-fought debate over immigration — articulated by lawmakers, pundits and advocates on all sides of the issue — that the surge in immigration in the last two decades has overwhelmed the United States with low-wage foreign laborers.

Over all, the analysis showed, the 25 million immigrants who live in the country’s largest metropolitan areas (about two-thirds of all immigrants in the country) are nearly evenly distributed across the job and income spectrum.

“The United States is getting a more varied and economically important flow of immigrants than the public seems to realize,” said David Dyssegaard Kallick, director for immigration research at the Fiscal Policy Institute, a nonpartisan group in New York that conducted the data analysis for The New York Times.
....

The analysis suggests, moreover, that the immigrants played a central role in the cycle of the economic growth of cities over the last two decades.

Cities with thriving immigrant populations — with high-earning and lower-wage workers — tended to be those that prospered the most.

“Economic growth in urban areas has been clearly connected with an increase in immigrants’ share of the local labor force,” Mr. Kallick said.

Surprisingly, the analysis showed, the growing cities were not the ones, like St. Louis, that drew primarily high-earning foreigners. In fact, the St. Louis area had one of the slowest growing economies.

Rather, the fastest economic growth between 1990 and 2008 was in cities like Atlanta, Denver and Phoenix that received large influxes of immigrants with a mix of occupations — including many in lower-paid service and blue-collar jobs.

In metropolitan Denver, where the economy doubled between 1990 and 2008, 63 percent of immigrants worked in jobs on the lower end of the pay scale.

Denver “did a great job of attracting people from other places in the world,” said Rich Jones, director of policy and research at the Bell Policy Center, a nonpartisan group in that city that focuses on the impact of economic and fiscal policies in Colorado. “They are coming with a variety of skills,” Mr. Jones said. “They created demand for goods, services and housing that began a dynamic.”


Read full article here.

Wednesday, March 24, 2010

Glaeser: "Anti-Urban Bias" in Federal Government Policies

In a recent Boston Globe Op-ed, Ed Glaeser writes:

Over the past 60 years, cities have been hit by a painful policy trifecta: subsidization of highways, subsidization of homeownership, and a school system that creates strong incentives for many parents to leave city borders. Nathaniel Baum-Snow, an economist at Brown University, has documented that each new federally-funded “highway passing through a central city reduces its population by about 18 percent.’’

Subsidizing transportation decreases the advantage of living close together in cities, which should make every urbanite worry about the Senate’s fondness for using highway spending to fight recession. The current Senate jobs bill calls for a more than $30 billion increase for transportation over the next two years.

It is a mistake to think that spending on trains balances the scales. Cities will always benefit far less than exurbs from transportation because dense areas already have good means of getting around, like walking. Urban advocates would do better to either reduce highway subsidies or to balance that spending with more funding for urban schools.

Political leaders have long championed homeownership, but subsidizing homeownership is also anti-urban. Sixty-two percent of Boston homes are rented; 78 percent of Wellesley homes are owner-occupied. Cities are defined by apartments, and more than 85 percent of homes in multi-unit structures are rented. Suburbs are known for their single-family detached houses, and more than 85 percent of such homes are owner-occupied. Subsidizing homeownership, through Fannie Mae, Freddie Mac and the home mortgage interest deduction, lures people out of cities.


Read full article here.

How Have Recent Rezonings in NYC Affected the City's Ability to Grow?

Examining the effects of Rezoning: Case of New York City

A new report by NYU's Furman Center for Real Estate and Urban Policy examines the rezonings that took place between 2003 and 2007, and finds that of the 188,000 lots that were included in a City-initiated rezoning action, 23 percent were downzoned, 14 percent were upzoned, and almost 63 percent were subject to a contextual-only rezoning (a term for a rezoning that does not significantly change the buildable capacity but otherwise limits the kind of building allowed). Despite the small share of upzonings, on net, these actions increased the City's capacity for new residential building by 1.7 percent, or roughly 100 million square feet of residential capacity.

''Given the scale of rezoning activity during this time, it is critical to take a step back and ask: 'what is the net impact on the City’s capacity to accommodate new growth?''' said Vicki Been, faculty director of the Furman Center. ''While we find that on paper, the upzonings have added more capacity than the downzonings have taken away, we also find reason to doubt that all of this new capacity will be built out for residential use, and it remains unclear whether we are on track for creating enough new residential capacity to accommodate the one million new New Yorkers that are expected to live in the City by 2030.''


Click link below to access article.

Smart Growth Resource Library: How Have Recent Rezonings Affected the City's Ability to Grow?

Friday, March 12, 2010

Boise No. 10 for falling home prices | Business | Idaho Statesman

Sales of Valley homes increased 38 percent in February over a year ago, and the number of homes listed for sale decreased 22 percent. But median prices fell again in Ada County.

Sober sellers also are getting between 95 percent and 97 percent of their more realistic asking prices.

But the National Association of Realtors says the Valley's home-price declines this past year were the 10th worst among metro areas.


Read full story:

Boise No. 10 for falling home prices | Business | Idaho Statesman

Thursday, March 11, 2010

Treasure Valley home sales rise 50 percent; median prices mixed | Idaho Economy | Idaho Statesman

According to ID Statesman feature published on Mar 11, 2010:

The number of home sales in the Treasure Valley year over year in February were up 50 percent from 308 to 462, according to the latest data posted on the Intermountain Multiple Listing Service Web site.

Over all median sale prices in Ada County were down $4,400, or 2.6 percent, from $167,900 to $163,500, the MLS reported. Canyon County experienced a slight increase of 1 percent from $99,000 to $100,000.

In Ada County, existing home sale prices in February were close to the five-year low of 160,000 hit in October 2009. The median was down $3,000, or 2 percent, from $165,000 in January to $162,000 in February.

Median sales prices in new Ada County construction also went down $9,000 or 4.6 percent from $194,000 in January to $185,000 in February.

In Canyon County, existing home sales hit a new five-year low of $94,900, dropping $1,100 or 1.1 percent below $96,000 in January. However, new home median prices rose 8.4 percent from $125,000 in January to $135,500 in February.


Be careful when you interpret the median home prices though. It is not the same as average home prices in our area.

Treasure Valley home sales rise 50 percent; median prices mixed | Idaho Economy | Idaho Statesman

Wednesday, March 10, 2010

Local Employment Dynamics data from US Census

Here's the ON THE MAP website for the local employment dynamics data for Boise, ID. This is the GIS mapping tool I showed you in class that is going to eventually replace Census Bureau's "journey to work" data.

Friday, March 5, 2010

Downtown Boise condo sales are looking up | Business | Idaho Statesman

Few if any condominiums in Downtown Boise were selling in August, but since then at least 25 sales have closed or are pending.

Lisa Lyons, director of sales for CitySide Lofts at Myrtle and 15th streets, where 10 units have sold since September and three sales are pending, said: "It seems we've hit a price, and with the combination of low interest rates and available FHA financing, we've found the market."

Units at CitySide Lofts sell from $159,900 to $350,000, down about 20 percent from prices of $199,000 to $450,000 two years ago.

Sales managers, agents and developers for five projects Downtown said most prices have dropped between 15 percent and 30 percent from 2007.

Read full story:

Downtown Boise condo sales are looking up | Business | Idaho Statesman