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> so one just needs to keep adding supply. That's a very tech focused idea. Chicago is currently having infrastructure issues due to demand. (the city wants t
by monksy 7y ago
> so one just needs to keep adding supply.
That's a very tech focused idea. Chicago is currently having infrastructure issues due to demand. (the city wants to use that to show "see we need more money" the transit system is always busy.. yet isn't considering how to address that issue)
Anyways, new developers are only choosing to build "luxury" apartments.
Here's an example:
when I moved into logan square: I was paying 1350$+100$ for a garage 2br/1ba. That was about 200$ more than the places around it.
Now that 10+ high rise buildings have been built near by. A place similar to mine costs $3200, and studios are going for 1800. (Either limited parking [as in you are competing with others to rent a space] or no parking at all)
Has the area improved? Nope. Businesses are having an even harder time staying open.
- lotsofpulp 7y agoThen the supply of “Chicago” equivalents is too low. By paying high prices, people are signaling to society that they value a dense city with public transportation. And chicago is the cheapest one of those, so if chicago is too expensive, then it’s signaling we need far more dense cities with public transportation. Unfortunately, current regulations and voters make it impossible to create another Chicago/NYC/SF.