The invisible laws that led to America's housing crisis | CNN Business

  • 📰 CNN
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 95%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

In the 1910s, US cities began enacting policies that would shape neighborhoods and, unintentionally, lay the roots for the severe housing shortage today: single-family zoning laws

Zoning laws, at their most basic, follow a simple concept. In one part of town, only factories can be built. In another section of town, only apartment buildings can be built. And in a different part of town, only single-family houses can be built. Single-family zoning laws are unknown to most Americans, but they were instrumental to the expansion of urban areas and the suburban ideal of owning a home with a front porch and backyard on a half-acre plot of land post-World War II.

” And before their introduction in the 1910s, there were few broad laws about where things could be built, in general. Homes would go up next to factories. An apartment building could be built in the middle of a downtown commercial strip. But single-family zoning laws spread to protect homeowners in residential areas from new industrial developments like warehouses, according to economic historians. In 1916, eight cities had zoning laws.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Mortgage rates climb toward 7% after America's credit rating was downgraded | CNN BusinessUS mortgage rates jumped this week, climbing closer to 7%. The move follows last week’s rate hike from the Federal Reserve, and the downgrade this week by Fitch Ratings agency of US sovereign debt, and of Freddie Mac and Fannie Mae.
Source: CNN - 🏆 4. / 95 Read more »