Ten years after a housing collapse during the Great Recession, home values have rebounded but there are too few homes on the market. The cost of buying a home has soared far past the point of affordability for many in the market. One culprit: Home construction per household is at its lowest level since Kennedy was president. In some growing midsize cities, there are 10 times as many buyers as homes available.
One way that society has innovated–in the form of housing preferences and choices–is to create a small but fast-growing in-between category of housing options–the newly-built single-family for-rent neighborhood. Five percent of new housing starts in the USA are built to rent.
Airbnb has announced its second branded apartment community, a property in Nashville that will rent to both long- and short-term residents. The company also says it plans to open more such properties — as many as 14 by 2020.
Decades after photographing its abandoned buildings and makeshift playgrounds, Camilo José Vergara sees an unmatched contrast between past and present in the economically devastated borough of New York City.
The most populous city in South America, Sao Paulo has undergone rapid population growth as Brazilians deserted the countryside seeking work, but it has never built to keep up. Half a million families have nowhere to live, a crisis that forced some to set up home in abandoned downtown buildings, many of them fire hazards unsafe for human habitat.