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Hawaii: Say “Aloha” To Transit-Oriented Development

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This article orginally appeared on Streetsblog DC.


Honolulu, one of the most congested cities in the country, could benefit from more transit-oriented development. Photo: ShowBus

Not all transportation in Honolulu, Hawaii is a walk on the beach.

Known for its breathtaking natural beauty and warm temperatures, Honolulu is also plagued by heavy traffic congestion and delays. High energy costs and a lack of transportation choices compound the challenges of getting around Hawaii’s state capital and most populous city.

To put it in perspective, Honolulu recently surpassed Los Angeles to become the city with the worst traffic in the nation. And on average, households in the City and County of Honolulu spent a whopping $13,598 each year on transportation alone, wasting an average of 58 hours in traffic during that time.

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The home Mortgage Interest Deduction – who benefits the most?

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Figure 2 from Federal Involvement in Real Estate.

The federal government spends billions each year in the real estate market through a web of costly programs with an uneven impact on homeowners, renters and communities. Smart Growth America’s recent report Federal Involvement in Real Estate surveyed 50 federal real estate programs to better understand where this money goes, who is benefiting (and who isn’t) and which programs are particularly in need of a closer look.

One of the costliest tax-expenditure programs for housing is the home Mortgage Interest Deduction (MID). Created in 1913, the federal government commits an average of $80 billion each year to this program intended to promote homeownership. Our recent report explains that while the MID does promote increased spending on housing , it does not necessarily increase rates of homeownership. Compounding this problem, the deduction in its current form may be skewing the real estate market in unintended ways.

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Partnership in the News: Officials Visit Indianapolis, IN

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On Friday, January 11th, officials from three federal agencies visited Indianapolis, IN for a first-hand perspective at how federal funding and provisions have benefited local environmental and redevelopment projects.

During the visit Indianapolis Mayor Greg Ballard was enthusiastic about several innovative development projects being done in the city, including brownfield remediation efforts and the Indianapolis Cultural Trail. The Cultural Trail is a multi-use path that connects neighborhoods, Cultural Districts and entertainment amenities and the Indianapolis ‘bike hub’ to help make bicycle commuting easier and more viable. The award-winning 8-mile path encircles downtown Indianapolis, passing through the city’s visitor and business district, its arts and cultural hubs, and several neighborhoods.

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Have you asked Congress to rethink real estate?

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Most Americans don’t know that the government spends $450 billion each year on real estate. And few – if any – know the full impact of these expenditures.

Join the call to examine this spending. Sign our petition calling on Congress to take action.

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What type of development does $450 billion a year support? Ask Congress to investigate.
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Join the call to Rethink Real Estate

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Earlier today, we released a new report about the federal government’s involvement in real estate. This spending represents billions of dollars of taxpayer dollars, and impacts Americans on every street in every town and city across the country.

We’re calling for action, and we want you to join us. Add your name to the petition asking Congress to examine this spending and better coordinate federal programs.

We know what programs this funding goes to, but how does it impact American families? Is it supporting U.S. communities? And are taxpayers getting the best return on their investment? All of these questions should be answered.

As the 113th Congress begins its new work, with the Presidential Inauguration just two weeks away, and as budget concerns continue to be a focus of debate in Washington, now is a unique opportunity to examine this spending.

Ask Congress to examine federal real estate spending. Take a moment to add your name to the national petition, and share it on Facebook or on Twitter with the hashtag #RethinkRealEstate.

Federal investments could help American communities grow stronger and more vibrant — in addition to achieving their goals of homeownership and housing security. Call on Congress to examine these programs today.

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New report calls for examination of federal real estate spending

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Federal financing of and spending on real estate impacts millions of Americans on every street, in every neighborhood, town and rural community in the country. From loan guarantees to commercial tax credits, these programs help those most in need pay their rent, help families purchase their first home, and provide financing for commercial development. The federal government impacts where and how homes and even whole neighborhoods are built in the United States.

Federal Involvement in Real Estate: A call for examination surveys this spending, which encompasses approximately $450 billion each year. Through a combination of direct spending and commitments, this funding supports loans and loan guarantees, grants, and tax credits.

This spending has an enormous impact on the U.S. real estate market. Though usually viewed as a “free” market, the U.S. real estate sector is heavily influenced by direct and indirect government intervention. Taken as a whole, these expenditures and investments impact where real estate is developed and what kind of product is built.

Even a cursory analysis reveals this impact is uneven. For example, small multifamily buildings are less likely to receive financing, despite the fact that most renters in the United States live in these smaller buildings. Viewed as whole, federal funds are not targeted to those most in need, are not targeted to strengthen existing communities and are not targeted to places where people have economic opportunities.

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