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The problem could be lessened if NIMBY's would stop trying to dictate how property they don't own should be used (that is, we allow construction) and if we'd st
by aaronchall 10y ago
The problem could be lessened if NIMBY's would stop trying to dictate how property they don't own should be used (that is, we allow construction) and if we'd stop subsidizing people who can't even marginally afford to live there.
I figure if we'd eliminate the latter, we'd take care of a lot of the former.
In NYC, we have recently seen rents reduce due to new housing supply coming on the market.
- 21 10y agoI'm not so sure. In London there's a lot of construction going around, but at the same time a lot of buying for investment purposes, properties which are not even rented afterwards.
- colordrops 10y agoIn Beijing they dealt with this problem by disallowing foreign investment in real estate except for personal use. Seems like a huge chunk of properties in L.A. are being purchased as investments by Chinese and other foreign entities, without ever physically visiting the house, which is at least as much of a problem as those you list.
- kafkaesq 10y agoThe problem could be lessened if NIMBY's would stop trying to dictate how property they don't own should be used (that is, we allow construction). "Howdy, neighbor! I'm gonna build 70'-high sludge containment tower on these vacant lots I just bought next to your property. Got a problem with that?" Of course you would. Everyone is a NIMBYist, to dome degree or another. It's just a question of degree.