3 ms·
One city can't "outstrip demand" by itself. If prices are cheaper in one city, demand will spillover from others. It's a national problem. Cities/states that do
by lend000 6y ago
One city can't "outstrip demand" by itself. If prices are cheaper in one city, demand will spillover from others. It's a national problem. Cities/states that do build have certainly done better, though. Compare the cost of living in Dallas and Houston to San Francisco and Los Angeles.
This isn't to say easy money and certain tax policies (like California's 2% taxable growth limit) haven't contributed to the problem, on top of zoning.
- irrational 6y agoI would think it depends on the city. Portland Oregon is about 3 hours (at highway speeds) from Seattle, 7 hours from Boise, and about 9 hours from Sacramento (the next cities to the North, West and South). There is no demand spillover for cities that are as isolated as Portland.