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In Camberville, we're increasing supply... of luxury condos. So far, I haven't seen it make a dent in the market. Fort Point in Boston went from having almost n
by tibbon 11y ago
In Camberville, we're increasing supply... of luxury condos. So far, I haven't seen it make a dent in the market. Fort Point in Boston went from having almost no housing to hundreds of new units... yet I called one of the buildings and found their 1BRs to be $3,200/month.
The public transit infrastructure, and road infrastructure, in Boston and SF is insufficient to make living further away ok for most people. But again, that basically just creates neighborhoods of software/biotech people and nothing else, which feels terrible.
- rhino369 11y agoEven luxury places increase supply in general. People flock to the newest most luxurious places. So when a new one opens up, it decreases demand elsewhere. It might also push the rent up in your neighorhood/suburb, but across the metro area as a whole, adding luxury housing lowers prices.