According to CityLab editor at large Richard Florida, “there are several big red flags” in the housing market today.
“When it comes to housing, sometimes it seems we never learn,” Florida writes. One example of a repeating mistake is that Americans continue to overspend on housing, and studies show Americans continue to want more space and bigger homes. Florida disagrees with the decision of federal regulators to move back off tougher mortgage-underwriting standards. His solution is to “impose stricter underwriting standards and encourage the dense, mixed-use, more flexible housing options that the knowledge economy requires.”
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