RaleighForward is about Building a Future Together
RaleighForward and WakeUp’s December 5, 2024, annual reception featured Vicki Been, Faculty Director of New York University’s Furman Center for Real Estate and Urban Policy and former Deputy Mayor for Housing and Economic Development of the City of New York.
Professor Been presented “Making Housing More Affordable: What Have We Learned?”. She explored what other communities across the country are doing to address housing affordability and offered some ideas for Raleigh, in addition to praise for some of the reforms Raleigh has made recently.
We Are RaleighForward
The Triangle is in the early stages of an economic supercycle similar to those of Seattle, Austin, San Francisco and Boston. Economic supercycles tend to develop in regions with clusters of higher education because they attract businesses and entrepreneurs hungry for the technology, research and talent they produce, which in turn leads to an influx of capital investment and accelerating population growth. In the early stages, communities in these regions benefit from supercycles because they expand employment opportunities, raise property values, and increase tax revenue. As they intensify, however, economic supercycles strain local budgets, distort housing markets and exacerbate income inequality. When communities react too slowly as these economic supercycles evolve, they can reach a tipping point and effectively become enclaves of the wealthy at the expense of nearly everyone else.
RaleighForward’s Themes:
