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They go into higher-density buildings, just like everybody else. That, or nothing changes and they get priced out. Those are the options.
by dionidium 11y ago
They go into higher-density buildings, just like everybody else. That, or nothing changes and they get priced out. Those are the options.
- pessimizer 11y agoSo projects, then.
- davidw 11y agoNo. Replace a single story ranch house with, say, a duplex. Or a single story duplex with a quadplex. It can be pretty incremental. http://missingmiddlehousing.com/ http://missingmiddlehousing.com/
- dionidium 11y agoThat's a glib response, but I do want to bring attention to how often this discussion generates such glib responses. If it's not, "so, projects, then" it's "so, you want San Francisco to look like Manhattan, then?" or some equivalent. Notice how these responses do absolutely nothing to address the issue. They exist only to express dissatisfaction with realistic options. Again, you can either build to meet demand or expect higher prices. Those are the options.
- knodi123 11y ago> Again, you can either build to meet demand or expect higher prices. Those are the options. Or enact preferential laws, or use vandalism in order to drive demand down, or make newcomers feel unsafe or unwelcome. Those alternatives are not entirely rational, nor necessarily effective- but they are human nature, and not that rare.
- maxsilver 11y agoExcept higher-density buildings still equally price people out. There's no such thing as new urban apartments/condos that are cheaper than the houses they replaced. A 500k house never gets torn down to become 3 400k condos. It becomes 3 600-800+k condos. We should build more, because we need it. But "build more" can't be the only tool to lower prices, because simple observation shows us that it doesn't work.
- dkopi 11y agoYou can't judge pricing in a market that's very restrictive. Sprinkling a few higher density buildings in area with rapidly growing demand isn't going to be enough to lower prices.
- maxsilver 11y agoWhat about markets with no restrictions. Because this same behavior is seen there too, even in small cities in the south or Midwest. Even in cities that let developers do anything they want, anytime they want to.
- dkopi 11y agoIts very likely that a newer apartment would be priced higher than an older apartment. But that doesn't mean new apartments don't have an aggregate effect on the prices of other apartments. http://cityobservatory.org/in-some-cities-the-housing-construction-boom-is-starting-to-pay-off/ http://cityobservatory.org/in-some-cities-the-housing-constr...
- nostrademons 11y agoThere is if you take a step down on the housing ladder. Replacing a 1BR with a 3BR that you share with 2 roommates will reduce your rent. So will replacing a 2BR duplex with a 2BR apartment, usually. So will replacing a 3BR with a 2BR and having the kids double-up. ...which explains a lot about why residents dislike this
- dionidium 11y agosimple observation shows us that it doesn't work Quite the contrary. A pretty simple reductio proof demonstrates that more housing lowers prices. All you need is to imagine a market in which there is one more apartment available than there are people to rent it.
- mcguire 11y agoThere's also a simple proof that renters have near-infinite demand flexibility, so the prices can't go up. So....