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>> Plenty of wealthy people move to dense urban areas from car dependent suburbs and then stop driving as much. And when they move there, the wealthier they ar
by rufus_foreman 5y ago
>> Plenty of wealthy people move to dense urban areas from car dependent suburbs and then stop driving as much.
And when they move there, the wealthier they are, the less likelier they are to use public transportation. Because public transportation is an inferior good.
>> (and clearly many people do - they're willing to pay a premium for it)
Not true, high density housing costs more per square foot than single family detached and sells at a discount to it. People are willing to pay a premium for single family detached housing.
- tdeck 5y agoYou're being deliberately obtuse. People are willing to pay a premium for more space in the same dense metro area. Why are there condos worth $2MM in SF when you can buy a house in central PA for $40,000? It's because people want to live in dense urban areas with other people. Those dense urban areas are simply not workable with everyone driving everywhere. It wouldn't matter if everyone's a billionaire, you can't have a dense urban core with everyone driving. Those dense urban areas are the most expensive real estate markets in the country.
- rufus_foreman 5y agoWhich goes for more, the condo in SF or the single detached home in SF?