3 ms·
The new zipcodes face the same economic incentives to restrict supply. Property owners want to see their holdings increase in value and generally have more pol
by shkkmo 5y ago
The new zipcodes face the same economic incentives to restrict supply. Property owners want to see their holdings increase in value and generally have more political power. I don't see any reason why the new hot markets are going to do anything different from the old hot markets. Perhaps some will, but renters and potential homeowners will get priced out of more markets
- yazaddaruvala 5y agoBecause the long term benefit of density ends up lifting the local economy a lot more than the property prices go down in the short term. Especially with remote work, the extra income brought in adds to the local coffee, haircut and food scene, and increased overall property taxes on the same land make the city money. People just don't think in that long a timeframe but there are localities which do and hopefully it works for them and we all get to learn the timeframe for benefits (or the lack of benefits) from such a change. https://www.theurbanist.org/2020/08/12/portland-passes-sweeping-zoning-reform/ https://www.theurbanist.org/2020/08/12/portland-passes-sweep...
- shkkmo 5y agoMy point is that communities that cam think long term seem rare based on the available evidence. Thus most of the communities where the housing crises is being exported will just face the same problem. This why why I am making the point that we shouldn't rely on remote work (of self driving cars) to solve our housing crises. The only good solution is increasing density, (and I suspect we agree on that.) It's great if people want to take advantage of remote work to live I'm new housing markets, but they should realize the consequences of those choices and work to mitigate them.