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Is US running out of affordable housing supply though? The common theory is that US real estate market was overbuilt pre-2008. Prices in several markets, like
by prostoalex 8y ago
Is US running out of affordable housing supply though?
The common theory is that US real estate market was overbuilt pre-2008. Prices in several markets, like Detroit, Baltimore, Mississippi delta, Appalachian coal towns, and San Bernardino county among others, have not returned to 2006-2007 levels.
There are also markets with very lax, sometimes non-existent, zoning laws. Houston being the flagship example.
- bsder 8y agoHouston is not a great example because most of the cheap real estate is at the perimeter and that perimeter keeps moving outward at a quite astonishing rate. In addition, Houston has de facto zoning through land use restrictions: https://kinder.rice.edu/2015/09/08/forget-what-youve-heard-houston-really-does-have-zoning-sort-of/ https://kinder.rice.edu/2015/09/08/forget-what-youve-heard-h...
- TangoTrotFox 8y agoI'm not sure about that. There's an immense amount of cheap housing throughout the city. The reason that people don't want to live there is because it's also riddled with crime, gangs, and other such things. In the city you end up with cheap high crime housing, or expensive low crime housing. You're just describing the relatively new third option - moderate priced low crime housing an hour outside the city.
- lotsofpulp 8y agoHouses where people don’t want to live isn’t relevant supply.