4 ms·
> YIMBY: Build more housing and higher density in desirable places (places next to transit, places close to work). This will raise rents in areas that are more
by Decade 8y ago
> YIMBY: Build more housing and higher density in desirable places (places next to transit, places close to work). This will raise rents in areas that are more desirable (to market rates) and lower rents overall as there is more supply in the city.
Not entirely true. New units would cause rents to rise if rent has been kept artificially low by rent control, but for the last 23 years a California law has prevented vacant units from being rent controlled: Even rent-controlled units are market rate if you are trying to move to a new home.
https://la.curbed.com/2018/1/12/16883276/rent-control-california-costa-hawkins-explained https://la.curbed.com/2018/1/12/16883276/rent-control-califo...
But building higher density is inherently how you get lower rents when land is restricted.
http://marketurbanism.com/2018/02/05/density-working-poor-outbid-rich-urban-land/ http://marketurbanism.com/2018/02/05/density-working-poor-ou...
- chrischen 8y agoYes YIMBYism will cause rents in certain places with artificially suppressed rent to rise, but otherwise generally reduce rents. In SF there's a lot of resistance since this would also cause landlords to tear down and rebuild otherwise rent-controlled units. > Even rent-controlled units are market rate if you are trying to move to a new home. And this is one of the primary holes in how "rent control" helps the poor. It just helps a lucky few (for no specific good reason).