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This is the real problem IMO. We need more dense condos like Chicago, where the median condo price is 268k versus other large cities where it is almost double
by ixacto 5y ago
This is the real problem IMO. We need more dense condos like Chicago, where the median condo price is 268k versus other large cities where it is almost double that.
This is just people being taking advantage of their housing...investment/tax shelter/savings plan that is bidding the price up.
Look at something like this zero red flags that I can see for $219k that is much cheaper than in most other large cities, housing doesn't have to be this expensive. https://www.redfin.com/IL/Chicago/1706-W-Huron-St-60622/unit-1N/home/40369859 https://www.redfin.com/IL/Chicago/1706-W-Huron-St-60622/unit...
- almost_usual 5y agoCondo prices have gone down in the Bay Area since COVID. The problem is everyone wants a SFH suburban lifestyle in the Peninsula, Marin, or East Bay hills. That’s a luxury and you’re going to pay a premium for it.
- epicureanideal 5y agoBut are still EXTREMELY expensive relative to most of the US, not because of materials costs.
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- almost_usual 5y agoIf you had the money and power to solve this problem how much housing would you build in the Bay Area?
- ixacto 5y agoI'd make SF and all the large costal cities look like this https://upload.wikimedia.org/wikipedia/commons/a/a4/Hong_Kong_Harbour_Night_2019-06-11.jpg https://upload.wikimedia.org/wikipedia/commons/a/a4/Hong_Kon.... That is enough density to have a condo cost 100k instead of 500k. Sure there will be a decent amount of taxes and HOA fees, but that would turn housing into a utility rather than a government subsidy for the middle class. Also you could wire fibre to each unit and solve the internet speed problem for these NIMBYified cities.
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- souprock 5y agoWhy must it be "need more dense condos like Chicago" when you can just move to Chicago? If other large cities change to be more like Chicago, then you might change your opinion of them.