Climate Cities

How does the Home Interest Mortgage Deduction affect sprawl?

Now that the housing market is tanking, is it a good time to talk about the absurdity of the Home Interest Mortgage Deduction?

I mean, it's truly crummy social policy. The biggest benefits go to the people in the highest tax brackets, own expensive homes, and earn enough income that they can itemize their deductions. So in essence, the HIMD is a ginormous housing subsidy for the well-off -- and one that dwarfs all of the housing subsidies to lower-income folks. This NY Times article lays out the case nicely: apparently, half the benefit of the deduction goes to the 12 percent of taxpayers who make at least $100 grand per year.

But the conventional wisdom is that the home interest mortgage deduction isn't just crummy social policy, but crummy environmental policy as well. Allowing homeowners to deduct mortgage interest on their taxes gives people an incentive spend more of their money on housing than they otherwise would. And people with extra money to spend on housing tend to buy larger homes on bigger lots -- which, in theory at least, means that the HIMD primes the pump for low-density sprawl.

But is this really true? Does the HIMD really accelerate low-density sprawl?

Calculate how walkable your home is

Some of you may have missed it, as Odograph introduced it down in comments, so I thought I’d bring it up front: Check out Walk Score, where you can plug in your address and find out how walkable your home is, on a scale of one to 100. My old place — a condo near […]

Britain’s gonna build some

Britain’s building five new "eco-towns": The towns, each with a minimum of 5,000 to 10,000 houses, will be built to meet zero carbon standards and will each showcase a specific project promoting energy preservation or green technology, the Communities and Local government office said. Projects to be showcased could include use of communal heat pump […]

Necessary

This op-ed from Rick Cole, city manager of Ventura, Calif., will be music to the ears of all you Gristians: The feel-good stage of California’s leadership on global warming is unsustainable. Kudos to the pop stars with their calls to switch lightbulbs and unplug cellphone chargers when not in use. But we can’t pretend that […]

Go Get ‘Em, Plugger

Plug-in hybrids would reduce greenhouse-gas emissions, says new study Plug-in hybrid vehicles, long extolled here at Grist HQ, seem always to elicit one question from doubters: Wouldn’t running cars on electricity just mean more emissions from power plants? Answer: No! According to a new study from the Electric Power Research Institute and the Natural Resources […]

Thames Fugit

England walloped by historic floods It’s a “summer of suffering” in England, as severe flooding wreaks havoc across the country. This weekend, floods in the central and southern part of the country left more than 350,000 people without drinking water and forced the evacuation of hundreds from their homes. The worst part, observers say, is […]

Cars are more expensive than you think

Everyone knows that cars are expensive, right? Still, it may come as a surprise to find out just how much money we spend getting from place to place.

The cost of the car itself -- typically the second biggest purchase many families make in their lives -- is just the start. When you start adding in the cost of gasoline, and car insurance, and maintenance and repairs, and parking, and taxes to build new roads and maintain old ones, and license fees, and the medical costs of traffic accidents ... boy, I could go on all day ... suffice it to say, the zeros start adding up.

Renewable energy is good for them

Renewable energy is good for rural communities — at least in the UK: A study funded by the Economic and Social Research Council, of community renewable energy projects in Britain has found that so far, projects are largely based in the countryside, some quite remote. From wind turbines to shared heating systems, small-scale renewable energy […]

Really

If you haven’t already heard, yesterday saw the release of an important new report: In the most comprehensive environmental assessment of electric transportation to date, the Electric Power Research Institute (EPRI) and the Natural Resources Defense Council (NRDC) are examining the greenhouse gas emissions and air quality impacts of plug-in hybrid electric vehicles (PHEV). The […]

15 Green Cities

These metropolises aren’t literally the greenest places on earth — they’re not necessarily dense with foliage, for one, and some still have a long way to go down the path to sustainability. But all of the cities on this list deserve recognition for making impressive strides toward eco-friendliness, helping their many millions of residents live […]