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The YIMBY argument mentioned in the article is that expensive new housing today becomes mid-range and eventually lower-end housing over decades as it ages. If
by nrp 7y ago
The YIMBY argument mentioned in the article is that expensive new housing today becomes mid-range and eventually lower-end housing over decades as it ages. If you don’t put units into the front of that pipeline now, nothing comes out of the other end of it later. This seems plausible to me, and there is research stating the filtering effects may happen a lot faster than that on a regional level: https://www.citylab.com/perspective/2019/06/housing-supply-debate-affordable-home-prices-rent-yimby/591061/ https://www.citylab.com/perspective/2019/06/housing-supply-d...
- moultano 7y agoMore than that, "expensive" new housing is typically half the price of the single family homes next to it. It's just marketed as "luxury" because everything is. Typically the people protesting "luxury" housing already live in housing that's more expensive than what is getting built. The role of new construction in affordability is more direct. The people who live in the shiny new places will just bid up the price of the next best thing if it isn't available, and this ripples down until the people at the bottom are priced out. So by building it, you're preventing other things from being bid up.