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US Cities Are Changing Zoning Rules to Allow More Housing

NPR | Housing

US Cities Are Changing Zoning Rules to Allow More Housing

“The U.S. is short millions of housing units. Half of renters are paying more than a third of their salary in housing costs, and for those looking to buy, scant few homes on the market are affordable for a typical household.

To ramp up supply, cities are taking a fresh look at their zoning rules that spell out what can be built where and what can’t. And many are finding that their old rules are too rigid, making it too hard and too expensive to build many new homes.

So these cities, as well as some states, are undertaking a process called zoning reform. They’re crafting new rules that do things like allow multifamily homes in more neighborhoods, encourage more density near transit and streamline permitting processes for those trying to build.”

From NPR.

Blog Post | Cost of Material Goods

The Good Old Days Were Really Expensive

Most things are more abundant and affordable today.

If you had a dime in 1900, you could buy a 1-ounce Hershey chocolate bar and a 6.5-ounce bottle of Coca-Cola. It sounds like those were happy days indeed. That is until you look at wages, which were around 14 cents an hour for blue-collar workers.

At Walmart today, a 1.55-ounce Hershey bar costs $1.17 and a 1.25-liter bottle (42.27 ounces) of Coke is $1.52. Blue-collar workers earn closer to $36.15 an hour in compensation.

We buy things with money but pay for them with our time. Money prices are expressed in dollars and cents, while time prices are expressed in hours and minutes. A time price is simply the money price divided by hourly income.

In 1900, it took more than 21.4 minutes to earn an ounce of chocolate and 3.3 minutes for an ounce of Coca-Cola. By 2023, the chocolate time price had fallen to 1.25 minutes, and sodas were down to 0.06 minutes (3.58 seconds).

Chocolate cost fell 94.2 percent while cola cost fell 98.2 percent. For the time required to earn 1 ounce of chocolate in 1900, you get 17.1 ounces today, and for the time required to earn 1 ounce of Coca-Cola in 1900, you get 55.2 ounces today. Chocolate is 1,611 percent more abundant while cola is 5,425 percent more abundant.

Things can get more expensive and more affordable at the same time. This is why you must always compare prices to wages to see the true price, which is how much time things cost you.

This article was published at Gale Winds on 3/19/2024.

Wall Street Journal | Infrastructure & Transportation

Tesla to Unveil Robotaxi in August, Elon Musk Says

“Tesla plans to unveil its Robotaxi in August, the latest step in the company’s multiyear effort to bring self-driving vehicles to market.

Chief Executive Elon Musk said in a post on X that the Tesla model without a steering wheel or pedals would be shown to the world on Aug. 8.”

From Wall Street Journal.

BusinessMirror | Poverty Rates

PHL Could Hit Single-Digit Poverty Years Ahead of Schedule

“Better labor market conditions and slower inflation in the country could turn the administration’s single-digit poverty incidence aspirations into a reality two years ahead of schedule.

This was according to the latest Macro Poverty Outlook for the Philippines, released by the World Bank on Monday. It estimated that poverty incidence in the country could decrease to 9.3 percent in 2026 from 12.2 percent this year and 17.8 percent in 2021.”

From BusinessMirror.