A recent study, “Homeowner Politics and Housing Supply,” authored by Justin Tyndall and coauthors, offers valuable insights into the relationship between homeowners and city councillors in housing development decisions. Based on data from Toronto, Canada, between 2009 and 2020, the research employs machine learning to analyze housing bills and voting patterns.
The authors highlight a significant finding: councillors representing a higher number of homeowners are more likely to oppose housing bills, particularly for large developments within their own areas. The financial interests of homeowners, linked to property values, play a key role in shaping local politics and housing policies. This research emphasizes the impact of homeowners on housing decisions and prompts important discussions about balancing property values with housing supply to address urban housing challenges.
Limin Fang, Nathan Stewart, Justin Tyndall, Homeowner politics and housing supply, Journal of Urban Economics, Volume 138, 2023, 103608, ISSN 0094-1190, https://doi.org/10.1016/j.jue.2023.103608.
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Can you provide insights into the ways in which homeowners impact the development of housing policies, as uncovered in the latest research?