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> suppose that no new houses are ever built Why would you suppose that? I don't really see what you're getting at, that's a very unintuitive assumption; it sho

> suppose that no new houses are ever built Why would you suppose that? I don't really see what you're getting at, that's a very unintuitive assumption; it shouldn't happen if market forces are allowed to run their course.

kevin_thibedeau 5y ago
New afordable housing isn't built. Everything is "luxury" so that developers can maximize profit. When someone tries to build affordable duplexes the NIMBYs say not in my town.
- sokoloff 5y ago
  Even luxury units add supply to the middle and affordable parts of the housing stock. Today's luxury units are often bought and moved into by someone moving up from a mid-market place, the buyer of which is likely moving up from a 25 year old now affordable place. (Alternately, if no luxury unit is built, many of those buyers will be forced to buy the best-of-the-rest if they want to move in, putting more pressure on the middle, which in turn puts pressure on the affordable.)
- mirntyfirty 5y ago
  I think many things are intentionally mislabeled as “luxury”. One can buy a simple refrigerator from Best Buy and claim that it’s stainless. I’ve seen listings brag about how the place has a Nest thermostat.
- el-salvador 5y ago
  One trick they use in my country is adding a pool to apartment buildings. The pools are unused most of the time, but having a pool in the building increases the value estimated by property appraisals' checklists.
- deleted 5y ago
  [deleted]
- ffwszgf 5y ago
  Isn’t luxury the only thing that’s even allowed to be built in most NIMBY cities? Try building large “market-rate” housing in Palo Alto and see what happens (even within the confines of their already ridiculous zoning laws).
  - mywittyname 5y ago
    It's luxury almost everywhere. The only place cheaper housing is being built are in developments on the far outer suburbs of flyover cities. But even those builders are having trouble with supplies and labor.
a1pulley 5y ago
I was trying to draw attention to the fact that "I'm in the top 2% of earners but I can't afford a house" isn't surprising when legislative factors make it hard to add housing stock, when turnover is low, and when there's net population inflow. My supposition was intentionally exaggerated to clarify what happens when you don't build enough housing: not to be pedantic, but understanding what happens in "extreme cases" is a common technique in math and physics to understand what happens in more common ones.
georgeecollins 5y ago
>> it shouldn't happen if market forces are allowed to run their course. Apparently you haven't met my neighbors.
wyago 5y ago
Likewise, why would you suppose that market forces are running their course?

kevin_thibedeau 5y ago

New afordable housing isn't built. Everything is "luxury" so that developers can maximize profit. When someone tries to build affordable duplexes the NIMBYs say not in my town.

sokoloff 5y ago
Even luxury units add supply to the middle and affordable parts of the housing stock. Today's luxury units are often bought and moved into by someone moving up from a mid-market place, the buyer of which is likely moving up from a 25 year old now affordable place. (Alternately, if no luxury unit is built, many of those buyers will be forced to buy the best-of-the-rest if they want to move in, putting more pressure on the middle, which in turn puts pressure on the affordable.)
mirntyfirty 5y ago
I think many things are intentionally mislabeled as “luxury”. One can buy a simple refrigerator from Best Buy and claim that it’s stainless. I’ve seen listings brag about how the place has a Nest thermostat.
el-salvador 5y ago
One trick they use in my country is adding a pool to apartment buildings. The pools are unused most of the time, but having a pool in the building increases the value estimated by property appraisals' checklists.
deleted 5y ago
[deleted]
ffwszgf 5y ago
Isn’t luxury the only thing that’s even allowed to be built in most NIMBY cities? Try building large “market-rate” housing in Palo Alto and see what happens (even within the confines of their already ridiculous zoning laws).
- mywittyname 5y ago
  It's luxury almost everywhere. The only place cheaper housing is being built are in developments on the far outer suburbs of flyover cities. But even those builders are having trouble with supplies and labor.

a1pulley 5y ago

I was trying to draw attention to the fact that "I'm in the top 2% of earners but I can't afford a house" isn't surprising when legislative factors make it hard to add housing stock, when turnover is low, and when there's net population inflow. My supposition was intentionally exaggerated to clarify what happens when you don't build enough housing: not to be pedantic, but understanding what happens in "extreme cases" is a common technique in math and physics to understand what happens in more common ones.

georgeecollins 5y ago

>> it shouldn't happen if market forces are allowed to run their course. Apparently you haven't met my neighbors.

wyago 5y ago

Likewise, why would you suppose that market forces are running their course?