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"Zoning has for a century enabled cities to chart their own course. It is a useful and popular institution, enabling homeowners to protect their main investment and provide safe neighborhoods. As home values have soared in recent years, however, this protection has accelerated to the degree that new housing development has become unreasonably difficult and costly. The widespread Not In My Backyard (NIMBY) syndrome is driven by voters’ excessive concern about their home values and creates barriers to growth that reach beyond individual communities. The barriers contribute to suburban sprawl, entrench income and racial segregation, retard regional immigration to the most productive cities, add to national wealth inequality, and slow the growth of the American economy. Some state, federal, and judicial interventions to control local zoning have done more harm than good. More effective approaches would moderate voters’ demand for local-land use regulation—by, for example, curtailing federal tax subsidies to owner-occupied housing"--Publisher's description.
Why are house prices in many advanced economies rising faster than incomes? Why isn’t land and location taught or seen as important in modern economics? What is the relationship between the financial system and land? In this accessible but provocative guide to the economics of land and housing, the authors reveal how many of the key challenges facing modern economies - including housing crises, financial instability and growing inequalities - are intimately tied to the land economy. Looking at the ways in which discussions of land have been routinely excluded from both housing policy and economic theory, the authors show that in order to tackle these increasingly pressing issues a major rethink by both politicians and economists is required.
Land use controls can affect the quality of the environment, the provision of public services, the distribution of income and wealth, the development of natural resources, and the growth of the national economy. The Economics of Zoning Laws is the first book to apply the modern economic theory of property rights to all major aspects of zoning. Zoning laws are neither irrational constrints on otherwise efficient markets nor disinterested attempts to correct market failure. Rather, zoning must be viewed as a collective property right, vested in local governments and administered by politicians who rationally repsond to their constituents and to developers as markets for development rights arise. The Economics of Zoning Laws develops the economic theories of property rights and public choice and applies them to three zoning controversies: the siting of a large industrial plant, the exclusionary zoning of the suburbs, and the constitutional protection of propery owners from excessive regulation. Economic and legal theory, William Fischel contends, suggest that payment of damages under the taking clause of the Constitution may provide the most effective remedy for excessive zoning regulations.
As urbanization progresses at a remarkable pace, policy makers and analysts come to understand and agree on key features that will make this process more efficient and inclusive, leading to gains in the welfare of citizens. Drawing on insights from economic geography and two centuries of experience in developed countries, the World Bank’s World Development Report 2009: Reshaping Economic Geography emphasizes key aspects that are fundamental to ensuring an efficient rural-urban transformation. Critical among these are land, as the most important resource, and well-functioning land markets. Regardless of the stage of urbanization, flexible and forward-looking institu- ons that help the efficient functioning of land markets are the bedrock of succe- ful urbanization strategies. In particular, institutional arrangements for allocating land rights and for managing and regulating land use have significant implica- ons for how cities deliver agglomeration economies and improve the welfare of their residents. Property rights, well-functioning land markets, and the management and servicing of land required to accommodate urban expansion and provide trunk infrastructure are all topics that arise as regions progress from incipient urbani- tion to medium and high density.
The conversation about zoning has meandered its way through issues ranging from housing affordability to economic growth to segregation, expanding in the process from a public policy backwater to one of the most discussed policy issues of the day. In his pioneering 1972 study, Land Use Without Zoning, Bernard Siegan first set out what has today emerged as a common-sense perspective: Zoning not only fails to achieve its stated ends of ordering urban growth and separating incompatible uses, but also drives housing costs up and competition down. In no uncertain terms, Siegan concludes, "Zoning has been a failure and should be eliminated!" Drawing on the unique example of Houston--America's fourth largest city, and its lone dissenter on zoning--Siegan demonstrates how land use will naturally regulate itself in a nonzoned environment. For the most part, Siegan says, markets in Houston manage growth and separate incompatible uses not from the top down, like most zoning regimes, but from the bottom up. This approach yields a result that sets Houston apart from zoned cities: its greater availability of multifamily housing. Indeed, it would seem that the main contribution of zoning is to limit housing production while adding an element of permit chaos to the process. Land Use Without Zoning reports in detail the effects of current exclusionary zoning practices and outlines the benefits that would accrue to cities that forgo municipally imposed zoning laws. Yet the book's program isn't merely destructive: beyond a critique of zoning, Siegan sets out a bold new vision for how land-use regulation might work in the United States. Released nearly a half century after the book's initial publication, this new edition recontextualizes Siegan's work for our current housing affordability challenges. It includes a new preface by law professor David Schleicher, which explains the book's role as a foundational text in the law and economics of urban land use and describes how it has informed more recent scholarship. Additionally, it includes a new afterword by urban planner Nolan Gray, which includes new data on Houston's evolution and land use relative to its peer cities.
The book's aim is to draw together the economics literature relating to planning and set it out systematically. It analyses the economics of land use planning and the relationship between economics and planning and addresses questions like: What are the limits of land use planning and the extent of its objectives?; Is the aim aesthetic?; Is it efficiency?; Is it to ensure equity?; Or sustainability?; And if all of these aims, how should one be balanced against another?
Just as investors want the companies they hold equity in to do well, homeowners have a financial interest in the success of their communities. If neighborhood schools are good, if property taxes and crime rates are low, then the value of the homeowner’s principal asset—his home—will rise. Thus, as William Fischel shows, homeowners become watchful citizens of local government, not merely to improve their quality of life, but also to counteract the risk to their largest asset, a risk that cannot be diversified. Meanwhile, their vigilance promotes a municipal governance that provides services more efficiently than do the state or national government. Fischel has coined the portmanteau word “homevoter” to crystallize the connection between homeownership and political involvement. The link neatly explains several vexing puzzles, such as why displacement of local taxation by state funds reduces school quality and why local governments are more likely to be efficient providers of environmental amenities. The Homevoter Hypothesis thereby makes a strong case for decentralization of the fiscal and regulatory functions of government.
What if scrapping one flawed policy could bring US cities closer to addressing debilitating housing shortages, stunted growth and innovation, persistent racial and economic segregation, and car-dependent development? It’s time for America to move beyond zoning, argues city planner M. Nolan Gray in Arbitrary Lines: How Zoning Broke the American City and How to Fix It. With lively explanations and stories, Gray shows why zoning abolition is a necessary—if not sufficient—condition for building more affordable, vibrant, equitable, and sustainable cities. The arbitrary lines of zoning maps across the country have come to dictate where Americans may live and work, forcing cities into a pattern of growth that is segregated and sprawling. The good news is that it doesn’t have to be this way. Reform is in the air, with cities and states across the country critically reevaluating zoning. In cities as diverse as Minneapolis, Fayetteville, and Hartford, the key pillars of zoning are under fire, with apartment bans being scrapped, minimum lot sizes dropping, and off-street parking requirements disappearing altogether. Some American cities—including Houston, America’s fourth-largest city—already make land-use planning work without zoning. In Arbitrary Lines, Gray lays the groundwork for this ambitious cause by clearing up common confusions and myths about how American cities regulate growth and examining the major contemporary critiques of zoning. Gray sets out some of the efforts currently underway to reform zoning and charts how land-use regulation might work in the post-zoning American city. Despite mounting interest, no single book has pulled these threads together for a popular audience. In Arbitrary Lines, Gray fills this gap by showing how zoning has failed to address even our most basic concerns about urban growth over the past century, and how we can think about a new way of planning a more affordable, prosperous, equitable, and sustainable American city.