“Growing distrust between the United States and China has slowed the once steady flow of Chinese cash into America,” declares today’s New York Times, “with Chinese investment plummeting by nearly 90 percent since President Trump took office.”
If you live in a major American city, you’ve probably seen a lot of that investment flowing into neighborhoods around your home. So, what’s going to happen to your home value now that all those investors are sitting on the sidelines? In recent research, I tackled this question for the Dialogue of Civilisations Research Institute:
Continue reading “If the Chinese Buying Spree Is Over, Why Does the U.S. Housing Affordability Crisis Persist?”
Housing is local, but money is global. Therein lie both conflict and collective opportunity. For while our cities and our citizens need targeted strategies, they cannot achieve their full potential on their own. Thus, the federal government has developed a complex toolkit of policies over the past eighty-plus years, some of which work better than others and all of which are evolving. What is the best way to allocate our resources toward housing affordability? How far are we from that goal? How do we even agree on what affordability means?
In this episode, our resident housing finance expert Richard K. Green walks us step-by-step through these winding routes we’ve constructed to access the American dream.
Prof. Green is the Chair of the Department of Policy Analysis and Real Estate in the Sol Price School of Public Policy at the University of Southern California, where he also serves as the Director of the Lusk Center for Real Estate in the Price School and the Marshall School of Business. He recently finished a year as Senior Advisor for Housing Finance at the U.S. Department of Housing and Urban Development. He is currently a Trustee of the Urban Land Institute, a Weimer Fellow at the Homer Hoyt Institute, and a member of the faculty of the Selden Institute for Advanced Studies in Real Estate. He has previously served as Director of Financial Strategy and Policy Analysis at Freddie Mac, Chair of Real Estate and Urban Land Economics at the University of Wisconsin-Madison, Chair of Real Estate Finance at The George Washington University School of Business, and President of the American Real Estate and Urban Economics Association.
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“Our American Discourse” is produced by Aubrey Hicks, Jonathan Schwartz, and myself, and mixed by Corey and Ryan Hedden.