4 ms·

This is right, and this is the problem with solely YIMBY/market urbanist approaches to housing. Developers will all chase tech workers who can pay significantly

by notJim 8y ago

This is right, and this is the problem with solely YIMBY/market urbanist approaches to housing. Developers will all chase tech workers who can pay significantly more money for housing, and the housing market is segmented enough that it doesn't really free up housing at the low end. See this article for more: https://www.washingtonpost.com/business/economy/in-expensive-cities-rents-fall-for-the-rich--but-rise-for-the-poor/2018/08/05/a16e5962-96a4-11e8-80e1-00e80e1fdf43_story.html?utm_term=.864b99668145 https://www.washingtonpost.com/business/economy/in-expensive... We do need to build housing, but it can't all be "luxury" housing. This should be familiar to people because it's happening in the commercial space, too. It's the same thing as when storefronts would rather sit empty and waiting for a Chase Bank to come along than accept the lower rents from some other shop. The Chase Bank will pay far more in rent.

mixmastamyk 8y ago
When housing supply is constrained and regulations prevent affordability, rich folks are able to outbid everyone else. That's a fact that won't change. An oversupply on the other hand, would lead to older units being forced to lower prices, but won't happen until NIMBYs get out of the way.
nine_k 8y ago
Make providing e.g. 10% of the apartment capacity of a block as affordable / municipal-controlled housing a part of the building contract. Or make redevelopment of a "luxury" block tied to redevelopment of a less luxury block providing affordable housing (still net-positive for the development company, just much less lucrative). That is, make affordable development a part of the price of luxury development if you must. Just don't stall the development completely. This works best with large development companies and projects, though.
- maxsilver 8y ago
  We have that. It's called "inclusionary zoning", and it's another thing the YIMBYs are trying to kill.

by notJim 8y ago

mixmastamyk 8y ago

When housing supply is constrained and regulations prevent affordability, rich folks are able to outbid everyone else. That's a fact that won't change. An oversupply on the other hand, would lead to older units being forced to lower prices, but won't happen until NIMBYs get out of the way.

nine_k 8y ago

Make providing e.g. 10% of the apartment capacity of a block as affordable / municipal-controlled housing a part of the building contract. Or make redevelopment of a "luxury" block tied to redevelopment of a less luxury block providing affordable housing (still net-positive for the development company, just much less lucrative). That is, make affordable development a part of the price of luxury development if you must. Just don't stall the development completely. This works best with large development companies and projects, though.

maxsilver 8y ago
We have that. It's called "inclusionary zoning", and it's another thing the YIMBYs are trying to kill.