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They helped create California's high housing market. Now they can't afford it
- thatfrenchguy 5y agoSorry, nimbys deciding that we will not build any new housing for the next million that moved in created this crazy dumb market where you need to make 400k to buy a house, not the people that make the money.
- metalforever 5y ago(3x400k = 1.2kM). There's a lot of competition around 1.2-1.6. I'm missing the point here, which is that it is extremely expensive and only the highest income earners can think about a single family. We obviously need to build a shit ton more condos. No wonder people are homeless. No shit.
- randompwd 5y agoYou ever lived in a condo or do you mean build condos for other people?
- ecshafer 5y agoWhat is the issue with a condo? I do think Condos in America have an issue, which is that they could be cheaper if there were more, and less luxurious condos build. Japan for example has many apartments for sale that there is no indoors shared space, all doors open to to air, this is a huge cost savings. Those type of buildings aren't build in the US. We need denser, smaller, buildings in general. A city like Philadelphia or Baltimore have tons of row which provide a walkable city, and affordable housing without building up.
- uxp100 5y ago> Japan for example has many apartments for sale that there is no indoors shared space, all doors open to to air, this is a huge cost savings. Those type of buildings aren't build in the US. Most of the new apartments I have been in in the South Bay are built like this, maybe with some indoor common area somewhere, but the corridors are essentially outside, like you say. And Santa Clara and Sunnyvale are full of 2 story 16 or 20 unit apartment buildings from the 60s (u shaped, surrounding a courtyard, sometimes with small pool) and everyone’s door goes directly outside.
- landryraccoon 5y agoWhat's the problem with apartments? I've lived in apartments almost my entire life and they seem fine to me.
- metalforever 5y agoNothing, I live in an apartment
- underseacables 5y agoNow that the folks in the article have way, way overpaid for their house, they will be incentivized to oppose rezoning efforts because that might lower the value on their house. It’s almost like a pyramid scheme or viscous cycle? Complain about high real estate prices until you finally buy a house, then fight any effort that might lower its insanely exorbitant value.
- quantified 5y agoContrarian thought here: 37-year-old product manager can afford to buy a house in a top school district. Needs to sell some assets to get there, but has the assets to sell. Sounds about right. They hate parting with money. Is it proportionately different to a 37-year-old product manager for a Toledo auto parts manufacturer getting into a top school district there? There’s not capacity in top school districts for everyone who wants to be in one. For those lower on the income scale, it all totally sucks. Not minimizing their pain.
- SQueeeeeL 5y ago"There’s not capacity in top school districts for everyone who wants to be in one." I love the casual dystopian-ness of the 21st century we've internalized. We just accept that good schools are a rare commodity only available to the very wealthy
- underseacables 5y agoI’m very surprised the wealthy and tech elite are not creating their own schools.(1) Take two dozen families, pool the money, hire private teachers and tutors, get a school house, and go it alone. (1): https://fortune.com/2018/06/26/elon-musk-ad-astra-school/amp/ https://fortune.com/2018/06/26/elon-musk-ad-astra-school/amp...