On this week’s episode of Upzoned, host Abby Newsham and co-host Chuck Marohn are joined by Coby Lefkowitz, who penned the article that’s up for discussion: “Why small developers are getting squeezed out of the housing market.” It focuses on how finance shapes our cities, why debt is used to develop cities in the first place, how lenders deal with risk, and why risk mitigation is critical to understanding why the world looks the way it does. And, most notably, it dives into America's housing financial system and why it privileges large-scale institutional development at the expense of more incremental and community-based building.

• “Why small developers are getting squeezed out of the housing market,” by Coby Lefkowitz, Noahpinion (March 2024).

• Coby Lefkowitz (Website; X/Twitter).

• Abby Newsham (X/Twitter).

• Chuck Marohn (Twitter/X).

• Theme Music by Kemet the Phantom.