Richard Florida on MSNBC’s The Dylan Ratigan show discussing the housing market’s impact on social mobility and the dismal numbers that hang over the state of Florida when it comes to unemployment, poverty and foreclosures.
Richard Florida is back with a good piece in the New Republic titled Roadmap to a High Speed Recovery. There, Florida opines that America needs to stop subsidizing what he calls the “auto-housing-suburban complex.”
Richard Florida says owning a home may actually be a drawback given the economic flexibility required to power long-lasting recovery. He and his colleagues tracked homeownership levels across U.S. cities and regions to see how they correlate to other measurable demographic and economic factors.
Individuals and the country would be better off if we had fewer home owners and more renters, Richard Florida writes in the Wall Street Journal.
Since 2007, Americans have suffered through the worst economic conditions since the Great Depression. Florida is among a growing number of researchers who think that these are signs that the United States is becoming a nation of renters, and that the shift could be good for our pocketbooks, the economy and even our happiness.
Why are Americans becoming less nomadic? Greater labor mobility helps the economy, but are there other kinds of effects — negative or positive — related to a more rooted population? Is there an upside to more Americans staying closer to their hometowns?
Richard Florida and Charlotta Mellander argue that artists, bohemians and gays affect housing values through two kinds of mechanisms: an aesthetic-amenity premium; and a tolerance or open culture premium.
According to the cover story in the March edition of The Atlantic, renting benefits the economy. The article, written by Richard Florida, says that renters aren’t tied down to one location, so they’re freer to move from town to town as emerging industries and new jobs dictate. The also don’t have the long-term burden of a mortgage.