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It's not always clear the selfishness is strictly financial. If your land gets zoned for higher density development (or similar regulations/barriers are removed
by Erik816 9y ago
It's not always clear the selfishness is strictly financial. If your land gets zoned for higher density development (or similar regulations/barriers are removed), and there is strong demand, then the value of your property can go way up.
What they generally want is to enjoy the current character of their neighborhood (big lots, green space, still close to the city, walkable, etc.), but also realize substantial gains in housing value by keeping new housing off the market. They might gain even more money if their particular land could be developed and they moved, but then they woud have to move.
- ddlatham 9y agoMany people don't care about the potential monetary value change, it's only about the character of their neighborhood that you mention. They just enjoy the way of life in a low density, single family home neighborhood - the gardens, space, easy parking, low traffic, kids playing in the street. That's why they chose to live there.
- Retric 9y agoI think their is a strong bias that people which free time tend to care more about the neighborhood. Most people may not agree, but we rarely hear from an unbiased same.
- mercutio2 9y agoThey are welcome to buy all the empty lots and tear downs and make community land trusts out of them, or otherwise legally restrict their property with covenants. But if they don’t own the property, they need to stop trying to get Berkeley zoning to break Berkeley laws. Thank goodness for Nancy Skinner’s law that will make the city pay legal fees if the city does more crazy stuff like this. I can’t wait to vote Jesse out of office at the next election.
- leggomylibro 9y agoGood point; but if it's only that, why not simply cash out of the urban core once it starts to expand, and buy a larger property further out? You might deal with a longer commute, but that's just down to money; if you could afford the same square footage in the city center...but alas.
- robertcope 9y agoThis sort of answer angers me. I bought a house in town because it is convenient. I don't want to drive an hour to work each way. The idea that I will likely be taxed out of my home in ten or fifteen years is irritating and the idea that I should be happy about it because I'll make money on my house is also irritating.
- deleted 9y ago[deleted]
- morgante 9y agoThen move somewhere else with their millions in appreciated value. There are plenty of places in the country where you could buy a beautiful home with gardens, space, easy parking, low traffic, and kids playing in the street for 1/5 the cost of the Bay.