The Yes in My Backyard movement has been steadily growing based on a simple principle: To solve the housing crisis, simply build more affordable houses. But while YIMBY thinking has been making waves in many areas, particularly in cities with high levels of homelessness like San Francisco, some economists think the movement has outgrown its lifespan. Others think it has more to give.
‘Supply and demand will lower prices for everyone’ The basic idea behind YIMBYism is that houses should be built in “dense transit-accessible neighborhoods,” and eventually the “laws of supply and demand will lower prices for everyone,” said Julie Z. Weil at The Washington Post. The YIMBY model has worked in places like New Haven, Connecticut, a “mostly poor majority-minority, post-industrial city whose population is a double-digit percentage below its midcentury peak,” said Henry Grabar at Slate.
Some think YIMBYism doesn’t go far enough. After neighborhood and small business groups “sued San Francisco over a housing plan they said went too far, a coalition of housing activists is filing their own suit, arguing the city’s plan doesn’t go far enough,” said Adhiti Bandlamudi at KQED-TV San Francisco.
Homeowners can be anti-YIMBY Some people view the YIMBY movement as an unrealistic and unmanageable goal for the modern U.S. housing market. Despite many millennials and Gen Zers being stuck in a renter’s economy, about “66% of American households own their homes,” said Greg Rosalsky at NPR. People who own homes are “more likely to be civically engaged,” which some argue works against YIMBYism.
Other homeowners argue that deregulation won’t incentivize builders to put up more homes. “If I get richer in a city, I’m not going to demand more units of housing,” Schuyler Louie, the author of a paper on YIMBYism for the National Bureau of Economic Research, said to the Post. “I’m going to demand a nicer house, which is going to increase the price without actually increasing the demand for units.” This “uneven demand growth,” said a research paper from UC Berkeley, UCLA and the University of Toronto, is the “primary driver of declining affordability in recent decades.” |