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Have you never been to old European cities? They’re beautiful and dense. Hell, even London has many parts that are dense compared to US cities yet are beautiful
by MrAlex94 7y ago
Have you never been to old European cities? They’re beautiful and dense. Hell, even London has many parts that are dense compared to US cities yet are beautifully old and green (like Hampstead and Highgate!).
At the end of it, we live in a world where every bit of profit matters more than earning slightly less and having something better looking.
I mean let’s compare Los Angeles County vs Greater London:
4,058 sq mi vs 606 sq mi
Density 2,100/sq m vs 14,550/sq mi.
I mean the difference is insane! And ignoring the towers springing up all over London because of greedy developers, London doesn’t feel all that cramped or as if there’s concrete everywhere.
US cities need better public transport and more dense areas. Leave the rest to nature!
- WalterBright 7y ago> greedy developers What's wrong with people building things that others want to buy?
- deleted 7y ago[deleted]
- ambernightcrush 7y agoWhat's wrong is that there is no profit in selling real estate and housing at below market value, by definition. And in places like the bay, market rents are not affordable to an increasingly large population. Hence, the greedy perception. Developers are acting in self interest and the old system of financing predicated continuous wage growth.
- WalterBright 7y agoNot building towers will result in even higher prices for housing.
- MrAlex94 7y agoAt least in the UK the price per square foot greatly increases after each new build that replaces an older one. Surely prices would go down? You can even verify yourself. Go on a property portal such as Zoopla or Rightmove and compare the cost of a new build and old build in the same area. I have yet to find one where the new build is cheaper per square foot.
- CalRobert 7y agoOf course, people like newer things. But how was the cost of surrounding old builds affected?
- MrAlex94 7y ago> But how was the cost of surrounding old builds affected? Not sure I understand? Edit: Anyway, the poster I was replying to was making the point that these towers are alleviating demand and subsequently pushing prices down, which is not happening.
- WalterBright 7y agoThat is not what I wrote. I said the prices with the tower would be lower than prices without the tower, which is not the same as saying prices would decline. I.e. relative vs absolute.
- MrAlex94 7y agohttps://content.knightfrank.com/research/478/documents/en/2012-1101.pdf https://content.knightfrank.com/research/478/documents/en/20... This research shows that there’s an average of 1.5% price increase per floor. Care to share a counter-claim source?
- WalterBright 7y agoIncreasing the supply of something simply does not cause price increases. If the price increases, it's because demand is increasing even faster than supply.
- MrAlex94 7y agoSorry I’m talking in relation to the UK. It’s a much different reason for high prices here than somewhere such as SFO.
- abdullahkhalids 7y agoPeople buy things without accounting for externalities (which were not forcefully included in the price by govt regulation). Some buildings that people want to buy have negative effects on the rest of the people living in the city. Hence, there is an argument to be made that there is something wrong with certain kinds of buildings. These might be super high rises or it might be a polluting factory in the middle of the city.
- MrAlex94 7y agoHere (https://www.theguardian.com/commentisfree/2018/may/29/skyscrapers-wrecks-cities-luxury-towers-ugly-greed https://www.theguardian.com/commentisfree/2018/may/29/skyscr...) is a good article that explains it well. Plus, I don’t think housing should really be left to the free market. This is the UK after all, social housing is one of the best things we’ve ever done (IMO).
- WalterBright 7y agoThe article is full of bombastic statements like "They are loved by virility-obsessed mayors." I.e. the article isn't credible.
- MrAlex94 7y agoThe author is previous deputy chairman of the National Trust and English Heritage. A quick search would’ve shown you who the author of the column is. https://en.m.wikipedia.org/wiki/Simon_Jenkins https://en.m.wikipedia.org/wiki/Simon_Jenkins
- WalterBright 7y agoDoesn't matter who he is. If he wants his article to be taken seriously, he shouldn't fill it with unsupportable bombast.
- CalRobert 7y agoWhat business _isn't_ greedy? Do we complain about "greedy greengrocers"? You need to build systems where people trying to maximize profit isn't a problem. It's not something we've completely figured out (see: externalities) Ironically if greedy developers got their way in the US we'd have more low or no-parking buildings, as evidenced by the fact that they weren't build "enough" (whatever that means) parking until the law forced them to.