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It turns out people have this strange obsession with living within x miles of their family. While the number of people living in New York City has greatly incr
by purple-again 7y ago
It turns out people have this strange obsession with living within x miles of their family. While the number of people living in New York City has greatly increased the amount of land has not. The more people demanding the same thing, the more it costs. Hence real estate in desirable areas continues to return a significant rate. Well unless you invested in Detroit of course.
- barry-cotter 7y ago> While the number of people living in New York City has greatly increased the amount of land has not. The more people demanding the same thing, the more it costs. If there was the political will to do so they could build more densely in NYC. The amount of land is not going to grow massively but there’s no technical reason Brooklyn could not be built up as densely as Manhattan, or Queens as densely as Brooklyn. The technology for eight story walk ups or for similar buildings with elevators is about as old as the telegraph. If Tokyo can double its inhabitants from 1970-2013[1] with no rise in real estate prices or rents there’s no non-political reason NYC can’t do the same. [1]https://twitter.com/geographyjim/status/1121809404049776641?s=20 https://twitter.com/geographyjim/status/1121809404049776641?...