Did NIMBYs Kill the American Dream?, with Yoni Appelbaum

Did NIMBYs Kill the American Dream?, with Yoni Appelbaum

“Homeownership is the American Dream.” This saying is so ingrained in our zeitgeist that most Americans don't even pause to question it. However, according to the Black Knights Home Price Index, the average US home price increased nearly 80% from April 2015 to April 2023. Census data reveals that the median household income only increased by 4% during this period. Homeownership has thus become increasingly out of reach, especially for young professionals. So, how did the American Dream become an American nightmare?

In his brand new book, “Stuck: How the Privileged in the Propertied Broke the Engine of American Opportunity,” The Atlantic’s Deputy Editor Yoni Appelbaum offers a contrarian view, arguing that the crisis in American homeownership isn’t actually about cost—it’s about mobility. There are many places in America where housing remains affordable and even dirt cheap. The problem is that those affordable options are in less desirable locations, with fewer opportunities for high-quality jobs, education, and health care. Thus, young professionals continue to migrate to communities where opportunities are bountiful, but housing is not.

Appelbaum joins Bethany and Luigi to discuss how Americans got “stuck. Why does mobility matter so much? What are the implications of reduced mobility for Americans’ faith in capitalism and the belief that our country is still the land of opportunity? If treating a home as an investment—which many of us do—means less mobility, is being “stuck” so wrong for society? Together, the three of them unpack this entangled question of mobility, homeownership, and what it means for the reformulation of the American Dream.

Capitalisn't episodes mentioned:
Shattering Immigration Myths: Data Beyond Borders, with Leah Boustan
Raj Chetty's Surprising New Insights on How Children Succeed
What Happened to the American Dream? With David Leonhardt

Read an excerpt from Appelbaum's book on ProMarket (Penguin Random House)

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The Failure of Russian Capitalism With Bill Browder

The Failure of Russian Capitalism With Bill Browder

On this podcast we mostly talk about what isn’t working in American capitalism. But, on this episode, we're taking a break to look at how capitalism can go wrong in other countries, specifically...Russia. And we’re going to do that with a very special guest, Putin's so-called number one enemy, Bill Browder.

2 Jan 202037min

Silicon Valley’s Corporate Culture Problem With Mike Isaac

Silicon Valley’s Corporate Culture Problem With Mike Isaac

Does Silicon Valley have a capitalism problem or does capitalism have a Silicon Valley problem? On this episode, Kate and Luigi sit down with Mike Isaac, New York Times technology reporter and author of "Super Pumped: The Battle For Uber " to find out if these tech startups have a toxic corporate culture issue.

19 Dec 201935min

Optimizing Our Healthcare System

Optimizing Our Healthcare System

You don't need us to tell you there's something very wrong with the American healthcare system. The real question is: what can we actually do to fix it? Could Democratic candidates Elizabeth Warren and Bernie Sanders be right that Medicare for all would be better? Would a single-payer system fix all the frictions in the industry? On this episode, Kate and Luigi delve into the economics and capitalism of the healthcare debate.

5 Dec 201939min

Shareholder Vote Suppression With SEC Commissioner Rob Jackson

Shareholder Vote Suppression With SEC Commissioner Rob Jackson

A common theme on our podcast is whether shareholders have too much power. But if we were going to redistribute that power, to whom should it go? Two recently proposed rule changes at the SEC would transfer more power to CEOs. But do we really want to empower managers to operate with less checks and balances? This week, Kate and Luigi sit down with SEC Commissioner Rob Jackson to talk through these issues and debate the proposed SEC rules.

21 Nov 201939min

Is Elizabeth Warren Right About Private Equity?

Is Elizabeth Warren Right About Private Equity?

Presidential candidate Elizabeth Warren blames private equity for many of the issues in our economy. She plans to reign it in and regulate it with her new bill the "Stop Wall Street Looting Act". On this episode, Kate and Luigi explain how private equity really works, whether it’s bad or good for society, and they dissect Warren’s proposal to regulate these firms.

7 Nov 201937min

College Admission (In)Justice: Harvard and Beyond

College Admission (In)Justice: Harvard and Beyond

Getting into the right college is arguably more important than ever, which has put the justice or injustice of admissions processes in the spotlight. On this episode, Kate and Luigi give a fresh perspective on a recent admissions trial involving Harvard, explain its implications for college admissions in general, and ask whether the way elite universities choose their students is an example of capitalism working or failing.

24 Okt 201936min

What It Takes To Win The Nobel Prize In Economics

What It Takes To Win The Nobel Prize In Economics

On this episode, Kate and Luigi explain how to win the econ Nobel, why it's important, and they attempted to predict who the 2019 winner might be.

10 Okt 201935min

Economic Research: Nothing Precisely or Precisely Nothing?

Economic Research: Nothing Precisely or Precisely Nothing?

On this episode, you're going to hear how the sausage gets made in economic research as Kate and Luigi personally investigate whether private equity is to blame for the retail apocalypse.

26 Sep 201935min

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