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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Regulating Facebook and Google Pt 2: Politics

Regulating Facebook and Google Pt 2: Politics

In part two of our series investigating how digital platforms like Facebook and Google should be regulated, Kate and Luigi dissect the ways these companies interact with our political system by speaking with Nolan McCarty, Susan Dod Brown Professor of Politics and Public Affairs at Princeton University.

23 Maj 201934min

Regulating Facebook and Google Pt 1: Markets

Regulating Facebook and Google Pt 1: Markets

As digital platforms like Facebook and Google become globally powerful, some countries are investigating and even proposing legislation to regulate these companies. Building off a conference happening at the Stigler Center at the University of Chicago, Kate and Luigi speak with Fiona Scott Morton, a Professor of Economics at Yale, to interrogate these platforms from a traditional market structure perspective.

9 Maj 201939min

The Morality or Immorality of A Wealth Tax

The Morality or Immorality of A Wealth Tax

With Democrats like Alexandria Ocasio-Cortez and presidential candidate Elizabeth Warren proposing wealth taxes, Kate and Luigi break down how these taxes have or haven't worked in other countries and whether they could work in America.

25 Apr 201934min

The Ups and Downs of IPOs

The Ups and Downs of IPOs

There’s an acronym you’ve probably heard in the news a lot lately: IPO. With companies like Pinterest, Airbnb and UBER all considering going public this year, Kate and Luigi break down why these companies already have huge valuations, and whether rich people have an unfair advantage when it comes to investing.

11 Apr 201939min

Codetermination: A Seat At The Table

Codetermination: A Seat At The Table

Last year Elizabeth Warren proposed the controversial Accountable Capitalism Act. One of its most talked about proposals was focused on "codetermination." Kate & Luigi explain how it works, its effectiveness and examine one country that's been trying it out since the 1950s.

28 Mars 201933min

Is Global Antitrust Off the Rails?

Is Global Antitrust Off the Rails?

In the wake of a blocked merger between the German and French rail giants Siemens and Alstom, Kate & Luigi debate the role of global antitrust regulators. How do they protect consumers while also helping domestic companies compete with state-supported rivals from China?

14 Mars 201927min

Millennial Socialists

Millennial Socialists

Are millennials giving up on capitalism? A recent survey found a majority now prefer socialism. Luigi gets the scoop from our resident millennial, Kate, who says most simply want European-style social welfare, student-loan debt relief and campaign finance reform. Is that really so radical?

28 Feb 201934min

Pollution Pt 2: Contaminated Research

Pollution Pt 2: Contaminated Research

In our second episode on pollution, investigative journalist Carey Gillam joins Kate and Luigi to discuss her new book "Whitewash: The Story of a Weed Killer, Cancer, and the Corruption of Science." Gillam reveals how pesticide companies secretly influence scientific research and avoid EPA regulations.

14 Feb 201930min

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