4 ms·

Location, location, location. Price per square m/ft is much lower in the slum than in the gated community. If you couldn't aford a place in the gated communit

by 21 8y ago

Location, location, location. Price per square m/ft is much lower in the slum than in the gated community. If you couldn't aford a place in the gated community, would you use that money to buy a place in the slum? Or would you try elsewhere? The problem in general is not absolute lack of space for building (except islands like Japan, ...), but lack of place to build in desirable locations.

JoeAltmaier 8y ago
They are across a fence from one another. If land was at a premium, I'd assume somebody in power would burn the slums and sell the land? That's what I don't get.
- deleted 8y ago
  [deleted]
- 21 8y ago
  Apparently that happens: https://www.wsj.com/articles/mumbais-slums-make-way-for-luxury-residential-towers-1485259208 https://www.wsj.com/articles/mumbais-slums-make-way-for-luxu...
  - personlurking 8y ago
    In Brazil as well (as India), though it mostly happened in the 20th century.
- newnewpdro 8y ago
  I think the preferred approach these days is create lots of high-paying jobs in close proximity to the slums and wait for gentrification to happen. Makes a bunch of yuppies do the dirty work and take all the risk of displacing communities as tenants while the rents skyrocket. Then when they finally reach the point where they can afford to buy, they'll apply for huge mortgages to buy in the slum they effectively converted into a desirable place. Profit. This is what seemed to play out in The Mission district of SF over the past decade or so.
opportune 8y ago
This becomes pretty clear when you look at housing prices vs commute times in some of the larger, wealthier metro areas like NYC, Boston, Seattle, and the Bay Sure, you can get a 2500 sq ft house on a quarter acre lot for $500k, if you’re also willing to drive for 2 or more hours a day to go to/from work. If you want a 15 minute or less commute, prepare to spend 3 times more for the same sized house on a smaller plot of land. What’s crazy to me is when you have communities like Medina, WA or Atherton, CA where this extremely conveniently located land is all single family houses. When inequality is low you have people living close to employers for convenience and living far to get more house per $ - now inequality, especially in certain regions, is making it so that the rich people are able to get the best of both worlds To me the high premium on convenience these days indicates that these regions are in need of a public transportation upgrade, but that’s another story.
personlurking 8y ago
And a recent extension of the location problem: https://www.nytimes.com/2018/08/02/technology/google-maps-neighborhood-names.html https://www.nytimes.com/2018/08/02/technology/google-maps-ne... https://news.ycombinator.com/item?id=17670267 https://news.ycombinator.com/item?id=17670267

by 21 8y ago

JoeAltmaier 8y ago

They are across a fence from one another. If land was at a premium, I'd assume somebody in power would burn the slums and sell the land? That's what I don't get.

deleted 8y ago
[deleted]
21 8y ago
Apparently that happens: https://www.wsj.com/articles/mumbais-slums-make-way-for-luxury-residential-towers-1485259208 https://www.wsj.com/articles/mumbais-slums-make-way-for-luxu...
- personlurking 8y ago
  In Brazil as well (as India), though it mostly happened in the 20th century.
newnewpdro 8y ago
I think the preferred approach these days is create lots of high-paying jobs in close proximity to the slums and wait for gentrification to happen. Makes a bunch of yuppies do the dirty work and take all the risk of displacing communities as tenants while the rents skyrocket. Then when they finally reach the point where they can afford to buy, they'll apply for huge mortgages to buy in the slum they effectively converted into a desirable place. Profit. This is what seemed to play out in The Mission district of SF over the past decade or so.

opportune 8y ago

This becomes pretty clear when you look at housing prices vs commute times in some of the larger, wealthier metro areas like NYC, Boston, Seattle, and the Bay Sure, you can get a 2500 sq ft house on a quarter acre lot for $500k, if you’re also willing to drive for 2 or more hours a day to go to/from work. If you want a 15 minute or less commute, prepare to spend 3 times more for the same sized house on a smaller plot of land. What’s crazy to me is when you have communities like Medina, WA or Atherton, CA where this extremely conveniently located land is all single family houses. When inequality is low you have people living close to employers for convenience and living far to get more house per $ - now inequality, especially in certain regions, is making it so that the rich people are able to get the best of both worlds To me the high premium on convenience these days indicates that these regions are in need of a public transportation upgrade, but that’s another story.

personlurking 8y ago

And a recent extension of the location problem: https://www.nytimes.com/2018/08/02/technology/google-maps-neighborhood-names.html https://www.nytimes.com/2018/08/02/technology/google-maps-ne... https://news.ycombinator.com/item?id=17670267 https://news.ycombinator.com/item?id=17670267