Depressed Home Construction Impedes Economic Recovery

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Written By H. Pike Oliver

On November 5, 2010, the Wall Street Journal published a chart (see below) that compares the recovery from the Great Recession to the ones following the two most previous recessions--2001 and 1990-91. Most striking, is the difference in what is happening with home construction, which decline by about 40% during the first 18 months after the recession began in 2007.  And housing construction remains at that very depressed level, in sharp contrast to what happened during and following the last two recessions.

H. Pike Oliver

H. Pike Oliver focuses on master-planned communities. He is co-author of Transforming the Irvine Ranch: Joan Irvine, William Pereira, Ray Watson, and THE BIG PLAN, published by Routledge in 2022.

Early in his career, Pike worked for public agencies, including the California Governor's Office of Planning and Research, where he was a principal contributor to An Urban Strategy for California. For the next three decades, he was involved in master-planned development on the Irvine Ranch in Southern California, as well as other properties in western North America and abroad.

Beginning in 2009, Pike taught real estate development at Cornell University and directed the undergraduate program in Urban and Regional Studies. He relocated to Seattle in 2013 and, from 2016 to 2020, served as a lecturer in the Runstad Department of Real Estate at the University of Washington, where he also served as its chair.

Pike graduated from San Francisco State University's urban studies and planning program and received a master's degree in urban planning from UCLA. He is a member of the American Planning Association and the Urban Land Institute and a founder and emeritus member of the California Planning Roundtable.

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