Housing in the Downturn

While housing is down, we know that population growth eventually will create the demand for new homes, rejuvenating employment and investment in the industry.

The desire of President Obama’s new administration and leaders in Congress to undertake serious steps to stem global warming may provide a singular opportunity to make more visible the role rental housing can play in making our country’s infrastructure greener.

In the face of spiking foreclosure rates, plummeting home values and slow sales, what will draw investors back to the housing market? How will the risk in the housing market be re-priced to attract new capital?

San Francisco, one of the most expensive housing markets in the country, was more than double the California median price in the first quarter and more than 350 percent above the national average.

How much energy is spent making sure that new buildings "fit in"! Sometimes we're better off thanks to this design-by-committee. But what we lose is the surprise of the unexpected, the quirky stuff that makes a city special. I agree with Pablo Picasso: "Ah, good taste! What a dreadful thing. Good taste is the enemy of creativity."