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by sinak 10y ago
Source?
- deleted 10y ago[deleted]
- deleted 10y ago[deleted]
- TJTorola 10y agoI can't say for sure if this is what Foobarqux was referring to but this article https://news.ycombinator.com/item?id=11708873 https://news.ycombinator.com/item?id=11708873 came up a couple weeks ago which states > Tim Redmond of 48 Hills has argued that building more housing would make the problem [high housing costs] worse because the people who would move into it are likely to be wealthy newcomers whose demand for services will increase low-income employment, putting further pressure on older, lower-cost housing.
- foobarqux 10y agoYes, there are a number of similar arguments.
- dragonwriter 10y agoThe affordable housing requirements to qualify for the streamlined process should mitigate this effect, to the extent that it's real in the first place.
- justizin 10y agothis is a reduction of current affordable housing restrictions, and "affordable" / Below-Market Rate housing is currently awarded by a lottery which is harder to win than the actual lotto.
- bduerst 10y agoMaybe in rural America, but in SF it would relieve the downward pressure creating by outbidding. Right now people are being outbid on homes they would normally win, and in turn are overbidding on lower-priced housing. Increasing the supply even at the high-priced end would help reduce the displacement.
- foobarqux 10y agoHere's one: http://marginalrevolution.com/marginalrevolution/2016/04/market-urbanism-and-tax-incidence.html http://marginalrevolution.com/marginalrevolution/2016/04/mar...
- arebop 10y agoHe's saying that land is the actual limited resource and therefore landowners will capture all the value that comes from upzoning. But as-of-right zoning makes it possible to use land much more efficiently than before, because the buy-side of the market really does care about housing units. So while they might still be willing to pay 50% of their incomes from housing, their demand for land will fall as housing units require less land. This will shift the balance of economic power in the favor of residents. Think of what happened with modern agriculture. Food used to be much more expensive, then we greatly increased yields. People still need food and would be willing to pay more for it, but as the cost of production has fallen, agricultural landowners failed to totally capture the benefits. Instead, society allocated resources that would have gone into low-efficiency agricultural production to other uses, such as industrial goods production.