If you want more affordable housing available to low-income renters, the best solution can be to build more expensive apartments. This isn't as counterintuitive as it first sounds. In fact, it's based in simple rules of supply and demand: If you increase the overall supply of housing — even by adding on the high end — competition for low-end units declines and so do their prices (or, at least, the rate of price growth).
A new report from the California Legislative Analyst's Office provides the data to back this up. In the San Francisco area, the study found, neighborhoods with heavy construction of market-rate buildings saw half the displacement of low-income residents that low-construction neighborhoods suffered since 2000:
The report concludes that boosting private construction would do more to broadly help poor households than expanding small and costly affordable housing programs that can serve only a fraction of them. Those programs also don't resolve the underlying cause of high rents — the housing shortage itself.
And that shortage actually undermines affordable programs like housing vouchers, because it's a lot harder for the poor to use vouchers in a market where they're fiercely competing with everyone else. [Washington Post]
Building new housing also allows older units to look worse by comparison, so old housing becomes affordable to the poor and middle class while the rich move into new luxury options. Bonnie Kristian
Bernie Sanders is pushing for the ouster of two high-ranking Democrats who support his rival, Hillary Clinton, but his party isn't sympathetic to his cause.
Former Rep. Barney Frank and Connecticut Gov. Dannel Malloy co-chair the Democratic National Convention rules and platform committees, respectively, placing them in key positions to frustrate Sanders' plan to reshape his party — perhaps by getting rid of the superdelegate system — even if he does not win the nomination.
Sanders alleged the two cannot perform their duties in an unbiased fashion, but the DNC Rules and Bylaws Committee dismissed his complaint Saturday, the Connecticut Post reports. Frank, however, has promised to recuse himself from any committee matters that could affect the party's choice of presidential nominee. Bonnie Kristian
Around 700 migrants from Libya may be dead after the three small boats they were using to cross the Mediterranean capsized on Wednesday, Thursday, and Friday, the United Nations' refugee agency reported Sunday.
The largest boat was carrying some 670 migrants and did not have an engine. So far, only about 100 of its passengers have been rescued, while 15 bodies have been found.
All three boats were attempting to cross from North Africa to the southern shores of Italy. Libya has remained in chaos since the NATO-assisted overthrow of dictator Moammar Gadhafi in 2011, a power vacuum which permitted the Islamic State terrorist organization to set up shop in the seaside city of Sirte. Bonnie Kristian
A federal judge ordered the release of internal Trump University documents as part of an ongoing lawsuit against the presumptive Republican presidential nominee's company, The Washington Post reported Saturday. Donald Trump's attorneys had argued that the documents, including "playbooks" for salespeople, revealed trade secrets.
Judge Gonzalo Curiel issued the ruling hours after Trump disparaged his Latino heritage and called him a biased "hater" at a San Diego rally. In the order, Curiel said Trump "has placed placed the integrity of these court proceedings at issue."
With 7 in 10 Americans reporting they are "frustrated" with the 2016 presidential election, this year could be the Libertarian Party's big chance — and America's largest third party is holding its national convention in Orlando, Florida, this weekend.
On the agenda: picking a presidential nominee from among three contenders. Though the contest is considered close, greatest name recognition belongs to former New Mexico Gov. Gary Johnson, who was the Libertarian nominee in 2012, when he picked up more than 1 million votes. Johnson recently polled at 10 percent nationally against Hillary Clinton and Donald Trump, and he would need 15 percent support to make it into the general election debates.
Martin Short and Maya Rudolph stopped by The Tonight Show on Friday, so naturally host Jimmy Fallon had to find something totally outlandish for them to do together. The gang spoofed '80s cop shows with The Windy City Blue, a gag that gets progressively sillier — and windier — with each new bit. Hold onto your hat and watch below. Julie Kliegman
The World Health Organization dismissed a call Saturday to move or cancel the Rio Summer Olympics due to the spread of the Zika virus. The U.N. agency was responding to a Friday open letter from 150 health experts urging them to delay or relocate the event "in the name of public health," citing the mosquito-borne virus' link to birth defects.
"Based on the current assessment of the Zika virus circulating in almost 60 countries globally and 39 in the Americas, there is no public health justification for postponing or cancelling the games," the group's statement read.
The Zika virus is thought to have originated in Brazil. Julie Kliegman
Yellen noted that "growth looks to be picking up from the various data that we monitor," referencing rising oil prices and a weaker, stabilizing dollar as the rationale for her decision, which corresponds with recent remarks from other Fed policymakers.
She argued that a gradual increase from the near-zero rate the central bank has maintained since the 2008 financial crisis "would be appropriate" to push inflation toward the Fed's 2 percent goal. Bonnie Kristian