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> Then all the people move in > Property values start going down So you're saying that because it's so desirable, property values go down?
by jellicle 8y ago
> Then all the people move in
> Property values start going down
So you're saying that because it's so desirable, property values go down?
- Spivak 8y agoTwo ways to answer this: * Yes, the existence of less expensive high-density housing in a neighborhood puts downward pressure on the price of single-family homes. * Yes, because the value of an affluent, quiet, low-density neighborhood is just that -- exclusivity.
- jellicle 8y agoAre there any instances of this happening, ever? > Yes, the existence of less expensive high-density housing in a neighborhood puts downward pressure on the price of single-family homes. That's false. If land can be redeveloped into high density housing, developers will pay top dollar for it. An 80-story tower going up next to your bungalow may seem annoying to you, but some developer is going to pay you a mountain of money for that bungalow - way more than you could get for it from a regular purchaser - knock it down, and build their own 90-story tower.