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Opinion | The Jim Crow South? No, Long Island Today
Nov. 21, 2019 | The New York Times |

White Americans have long found comfort believing that racial discrimination is a thing of the past.

Black Americans feel they know better, and a three-year investigation of Long Island real estate agents by the local newspaper Newsday provides the latest depressing evidence that they are right.

More than half a century after the great civil rights battles to end discrimination, the newspaper found that black home buyers are being steered to black neighborhoods and more closely scrutinized by brokers.

Newsday sent white investigators posing as buyers to meet with 93 real estate agents about 5,763 listings across Long Island. Then, they sent a second buyer — either black, Hispanic or Asian — to meet with the same agents. The practice is a gold-standard methodology known as “paired testing,” in which real estate agents are contacted by pairs of prospective clients with similar financial profiles.

Black testers were treated differently than white ones 49 percent of the time. Hispanic buyers encountered unequal treatment 39 percent of the time and Asian buyers 19 percent of the time.

Along with steering minority testers to majority-minority areas, and white testers to mostly white areas, some agents required black buyers to meet additional financial conditions that they didn’t demand of white buyers with the same profile.
African-Americans  editorials  Jim_Crow  housing  New_York  racism  racial_disparities  Fair_Housing_Act  Long_Island  pairs  racial_discrimination  real_estate  redlining  segregation 
november 2019 by jerryking
Toronto’s tech boom is transforming the city
July 26, 2019 | The Globe and Mail | MARCUS GEE.

the tech industry that is transforming Toronto. The city is in the midst of a spectacular tech boom. Big firms such as Microsoft, Twitter, Uber, Google and Netflix are setting up shop or expanding here. Thousands of workers are coming to live and work in the city. Thousands of startup companies are revving their engines.

The pell-mell growth of the city comes in part from the rise of tech. Patrick Fejér of B+H Architects says 10 million square feet of new office space is due to open by 2024, more than was built from 1992 to the present. Toronto, he says, has more than 120 construction cranes in the air, compared with 65 in Seattle and 35 in New York.

CBRE, a real estate consultancy, says that Toronto is the fastest-growing market for tech talent in North America, “adding an eye-popping 80,100 tech jobs in the past five years, a 54-per-cent increase.” It now ranks third, just behind San Francisco’s Bay Area and Seattle.
Big_Tech  creative_class  downtown_core  housing  King-Spadina  Kitchener-Waterloo  livability  Marcus_Gee  millennials  neighbourhoods  Port_Lands  property_development  Sidewalk_Labs  talent  Toronto  transformational  transit  walkability  technology 
july 2019 by jerryking
Thinking BIG: Danish architects have a radical vision to build a distinct condo community in Toronto - The Globe and Mail
ALEX BOZIKOVIC ARCHITECTURE CRITIC
COPENHAGEN
PUBLISHED SEPTEMBER 12, 2018

The new condo will be hard to miss. It could be the strangest residential building ever constructed in Canada. Certainly, it will set an interesting example for new housing. While new condos and apartments are often faulted for being soulless, this promises to be a carefully detailed building, a distinctive place, and a village that contributes to the larger city.......the King Street project, by Westbank in partnership with Toronto office developers Allied Properties REIT. It was inspired by Moshe Safdie’s Habitat 67, the legendary assemblage of prefab boxes on Montreal’s harbour.......Like Habitat, the King Street building is configured as a series of “mountains,” irregular stacks of boxes that each contain a home or a piece of one. The residences rise up, over and around four century-old brick buildings, which will all be retained entirely or in large part......They are eminently livable. This is typical of BIG’s work, which tends to juxtapose fantastic ambition with business savvy and technical expertise.......BIG, and their clients, were ready to do something more thoughtful, but had no interest in blending in. After much back-and-forth, they’ve settled on glass block as the building’s main cladding material.....The King Street project is also an ambitious experiment with urban design. There are basically two species of tower in Toronto: a mid-rise slab of six to 10 storeys, which steps back at the top; and a “tower-and-podium,” a model borrowed from Vancouver that combines a fat, squared-off base (or “podium”) with a tall, skinny residential tower.
architecture  Danish  heritage  King_Street  livability  property_development  thinking_big  Toronto  condominiums  soul-enriching  housing 
september 2018 by jerryking
Have Americans Given Up?
MAR 5, 2017 | The Atlantic | by DEREK THOMPSON.
...this is a mirage, according to the economist and popular writer Tyler Cowen, whose new book is The Complacent Class: The Self-Defeating Quest for the American Dream. In fact, the nation's dynamism is in the dumps. Americans move less than they used to. They start fewer companies. Caught in the hypnotic undertow of TV and video games, they are less likely to go outside. Even the federal government itself has transformed from an investment vehicle, which once spent a large share of its money on infrastructure and research, to an insurance conglomerate, which spends more than half its money on health care and Social Security. A nation of risk-takers has become a nation of risk-mitigation experts...So, what happened? Cowen’s thought-provoking book emphasizes several causes, including geographic immobility, housing prices, and monopolization.....several studies have shown that many U.S. workers don’t start new companies because they’re afraid of losing their employer-sponsored health insurance. A single-payer system might increase overall entrepreneurial activity. As I read Cowen’s book, I thought of an acrobat show. No circus performer wants to leap between swings without a net to catch them as they fall. The trick is to design for safety without designing for complacency.
large_companies  dynamism  America_in_Decline?  self-defeating  Tyler_Cowen  economists  books  innovation  illusions  Silicon_Valley  geographic_mobility  economic_mobility  housing  Donald_Trump  elitism  restlessness  safety_nets  risk-mitigation  monopolies  the_American_dream 
march 2017 by jerryking
The Widening Racial Wealth Divide
OCTOBER 10, 2016 ISSUE | - The New Yorker | By James Surowiecki
THE WIDENING RACIAL WEALTH DIVIDE
It would take black Americans two hundred and twenty-eight years to have as much wealth as white Americans have today.

As Thomas Shapiro, a sociologist at Brandeis and the co-author of the seminal book “Black Wealth/White Wealth,” told me, “History and legacy created the racial gap. Policies have maintained it.” Together, they contribute to what he’s called “the hidden cost of being African-American.”

Start with history. Beginning in the New Deal and on into the postwar years, the federal government invested heavily to help ordinary Americans buy homes and go to school, via programs like the Federal Housing Administration and the G.I. Bill. That fuelled an economic boom and fostered the growth of a prosperous middle class. But black Americans received little of this assistance. Redlining by banks and by government agencies prevented black families from buying homes in white neighborhoods; in a thirty-year period, just two per cent of F.H.A. loans went to families of color. G.I. Bill benefits went disproportionately to white veterans. Black agricultural and domestic workers were excluded from Social Security until the fifties. As Dedrick Asante-Muhammad, the co-author of the CFED/I.P.S. report, told me, “Massive government investment helped create an American middle class. But it was a white American middle class.”
racial_disparities  James_Surowiecki  race  African-Americans  redlining  discrimination  generational_wealth  racism  education  housing  intergenerational  New_Deal  wealth_creation  home_ownership  books  post-WWII 
october 2016 by jerryking
More foreign buyers snapping up Canadian condos: CMHC - The Globe and Mail
TAMSIN MCMAHON - REAL ESTATE REPORTER
The Globe and Mail
Published Thursday, Dec. 03, 2015

The federal housing agency said it has struggled to get a full picture of foreign purchaser activity in the housing market and that its numbers are far lower than those in other studies. ....

The only data that CMHC has on foreign buyers are from surveys of property managers and condo boards, who are asked to identify non-resident condo owners. The survey doesn’t measure the number of overall home sales in a given year to foreign investors, nor whether foreign owners are buying units for themselves and family members or purely as speculative investments. CMHC also includes Canadians who now live abroad but who still own property in the country as part of its definition of foreign owner.....“We’re trying to work with other people and make an effort to get these data gaps solved so we can have more information about what some are saying is an important part of the market,” Mr. Dugan said. “You can see from our data that the rate of foreign ownership seems relatively low, certainly not the kind of levels that some other studies might suggests.
real_estate  CMHC  offshore  data  condominiums  information_gaps  housing  dark_data 
december 2015 by jerryking
How Segregation Destroys Black Wealth
SEPT. 15, 2015 | NYT | By THE EDITORIAL BOARD.

The Federal Housing Administration, created during the New Deal to promote homeownership, openly supported these racist measures; it forbade lending to black people even as it subsidized white families that moved from the cities to the suburbs. Cut off from fairly priced home loan credit, black neighborhoods deteriorated and their values plummeted....Many discriminatory practices were formally ended with the civil rights and fair lending laws of the 1960s and 70s. But these were quickly replaced by subtler techniques that encouraged ghettoization, like channeling black families away from white areas and banks’ and mortgage brokers’ systematically pushing middle-income black families into high-cost, high-risk loans when they could have qualified for more affordable loans....This history of discrimination has taken an enormous toll on black wealth, as is shown in research by Douglas Massey and Jonathan Tannen at Princeton University’s Office of Population Research. In 1970, two years after the passage of the Fair Housing Act, for example, the average well-off black American lived in a neighborhood where potential home wealth, as measured by property values, stood at about only $50,000 — as opposed to $105,000 for affluent whites and $56,000 for poor whites.

By 2010, affluent African-Americans had passed poor whites in potential home wealth but had fallen further behind affluent whites. There is more than money at stake, Mr. Massey and Mr. Tannen write, because home values “translate directly into access to higher quality education given that public schools in the United States are financed by real estate taxes.”

Throughout history, ethnic groups have been able to translate economic gains into housing in better neighborhoods and advantages for their children. But for African-Americans, the researchers write, that transition has been “thwarted by segregation and the prejudice and discrimination that create and maintain it.” In other words, the damage reaches across generations and continues today
African-Americans  discrimination  education  Fair_Housing_Act  generational_wealth  home_ownership  housing  intergenerational  New_Deal  prejudices  public_education  public_schools  racial_disparities  racism  real_estate_taxes  redlining  segregation  wealth_creation  wealth_management 
september 2015 by jerryking
The man who's selling us short
27 Apr 2013 | The Globe & Mail B.4 |Sean Silcoff.

Meet the 36-year-old fund manager who is wagering big money on big trouble for the Canadian economy

Vijai Mohan has made an all-in bet against C...
hedge_funds  Canada  housing  short_selling  the_big_picture  detail_oriented 
april 2013 by jerryking
The Performance of Remodeling Contractors in an Era of Industry Growth and Specialization
December 2007 |Joint Center for Housing Studies
Harvard University | by Abbe Will and Kermit Baker.
Harvard  skilled_trades  housing  home_ownership  home_renovations 
december 2011 by jerryking
Foreclosure Rise Brings Business To One Investor - WSJ.com
MARCH 14, 2007 | WSJ | By JAMES R. HAGERTY
BARGAIN BASEMENT
Foreclosure Rise Brings Business To One Investor
Mr. Barnes Buys Dregs From Worried Lenders; A Dozen for $35,250
foreclosures  housing  investors  subprime  mortgages  home_ownership  low-income 
october 2011 by jerryking
Exporting housing how-to | BUSINESS without BORDERS
By: Geoff Dale
ROB Newspaper
Thursday September 22nd, 2011
housing  howto  China  exporting  builders 
september 2011 by jerryking
Toronto’s backward on public housing: Get ’em out, not in -
Mar. 03, 2011 | Globe & Mail| Margaret Wente. Chocolates
and spa days aren’t what’s really wrong with Toronto’s public housing.
There are plenty of signs that the place has been mismanaged for years.
And the biggest problem is that the city’s got it backward. All the
focus is on getting people into public housing – not on getting them
out. In Atlanta, it’s the other way around. That city’s housing
authority doesn’t believe in owning buildings or playing landlord –
although it still does some of both. Its long-term aim is to move people
out of poverty and render itself obsolete. “Concentrating families in
poverty is very destructive,” Atlanta Housing Authority CEO Renée Glover
told The NYT. Over the past decade, the city has demolished a dozen
developments, and relocated thousands of residents to private market
rental housing with the help of voucher subsidies. The idea is to reduce
poverty by decentralizing it, and to gentrify poor neighbourhoods by
working with private developers.
Margaret_Wente  municipalities  housing  TCHC  social_housing  scandals  toronto  public_housing 
march 2011 by jerryking
Toward a New American Century - WSJ.com
OCTOBER 7, 2010 Wall Street Journal by Michael Milken. Despite
high unemployment, declining education standards and greater
competition from China and other countries, we can extend America's
pre-eminence long into the future if the public and private sectors—and
all of us as individuals—assume greater responsibility for our common
destiny.

Six areas in particular provide opportunities for positive change:

• Housing. • Entitlements. • Education. • Health.• Immigration.• Energy.
Michael_Milken  immigration  human_capital  education  energy  entitlements  housing 
october 2010 by jerryking

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