How to Repair America’s Broken Housing System — with Dr. Jenny Schuetz

Local Gov Role

Local governments play a crucial role in shaping housing development, often acting as both facilitators and barriers. Jenny Schuetz explains that while the federal government has limited control over land use, states have delegated this power to local governments, which can lead to delays in housing projects due to community objections 1. She suggests moving community engagement to the comprehensive planning stage to streamline the process. Schuetz notes, "State governments are starting to reclaim some of the power they delegated to localities because states are recognizing the real economic harms of not building enough housing" 1.

   

Homeownership

The perception of homeownership as a cornerstone of the American dream is shifting, particularly among younger generations. Jenny Schuetz highlights that many young people feel pessimistic about buying homes near jobs and amenities, leading to a mindset shift towards renting 2. She argues for a more honest discussion about the financial risks of homeownership, noting that stability, not wealth, is the primary benefit 2. "It's inherently risky to invest all of your savings in one piece of property in one location," Schuetz warns, emphasizing the need for diversified investments 3.

   

Climate Impact

Climate change is increasingly impacting home insurance and housing stability, especially in vulnerable areas. Jenny Schuetz points out that rising insurance premiums in places like Florida make homeownership less attractive and financially stable 3. She discusses how environmental laws, initially meant to protect vulnerable areas, are now being used to block housing projects, exacerbating the housing crisis 4. "We're just starting to see that now," Schuetz notes, highlighting the growing challenges in securing affordable insurance and housing in climate-affected regions 3.