4 ms·
Tearing down homes doesn't necessarily destroy value. It increases the value of other properties, because you have less supply and more demand. This is exactly
by erispoe 11y ago
Tearing down homes doesn't necessarily destroy value. It increases the value of other properties, because you have less supply and more demand. This is exactly the equivalent of not building while demand goes balistic. The price of homes has gone crazy in the Bay Area as a result of not allowing enough building.
You don't need eminent domain, and SFBARF is not advocating for it. The project they are suing the City of Lafayette for was entirely private: willing landowner, willing developer, and most likely a lot of potential buyers or renters in a tense market. But no, the City of Lafayette decided to approve on condition of a drastically reduced number of housing.
She is advocating that landowners and developers be allowed to build to meet market demand, without obstruction from nimby neighbors.