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An interesting term I recently learned from the real estate industry is not just NIMBY but for the ultimate extreme of people who start municipal political figh

An interesting term I recently learned from the real estate industry is not just NIMBY but for the ultimate extreme of people who start municipal political fights against new development, BANANA Build Absolutely Nothing Anywhere Near Anything

daniel-cussen 4y ago
Landlords you'd figure. Less competition. Less supply.
m00x 4y ago
I think your friend was pulling your leg. I'm married to a realtor and she's never heard that term. It's definitely not widespread.
- koube 4y ago
  I believe it's mostly a UK term. https://en.wikipedia.org/wiki/NIMBY#BANANA_and_CAVE https://en.wikipedia.org/wiki/NIMBY#BANANA_and_CAVE
- skybrian 4y ago
  It's a joke I've heard before, probably online, but I don't know in what circles it's popular.
  - deleted 4y ago
    [deleted]
- jonny_eh 4y ago
  It's definitely a common term/joke in pro-housing circles. I've heard it as far back as 10 years ago if memory serves.
- mistrial9 4y ago
  but she is lying to you!
  - m00x 4y ago
    Weird comment.
- walrus01 4y ago
  It is absolutely a term used in telecom related commercial real estate when talking about people who ABSOLUTELY FREAK OUT at the idea of a cellular site monopole going up on a 15'x15' patch of land behind some local gas station or fast food place, ruining the atmosphere of their already extremely aesthetically pleasing strip mall + tract home suburb. The same people, of course, who have a 5-person verizon or tmobile LTE family plan and spend a huge proportion of their waking life glued to their iphone or android phone.
hayst4ck 4y ago
If demand correlates only with population, and supply is constant, all those who own housing will see their value go up as long as the population increases. If housing is an investment it means either demand went up (population growth), or supply did not go up (housing wasn't built). I suspect that if you measure housing price adjusted for inflation per capita, you would get a measure of housing supply. The fact that house owning individuals financially gain from limiting housing supply is, to me, the defining feature of class warfare, even if people don't think they are participating in it. I think this is the basis for the statement "housing can either be affordable or an investment, but not both." Housing can either be in adequate supply (affordable) or limited (an investment).
- sidewndr46 4y ago
  You're correct, but missing a part of the picture. The cost of adding supply (to meet demand) goes up each year due to the perpetual increase in the building codes which must be conformed to.
  - hayst4ck 4y ago
    So if we assume you are correct, if we looked at an adjusted cost of housing graph (adjusted for inflation/population), its slope would change primarily when building code regulation goes into effect?
    - sidewndr46 4y ago
      Yeah that's pretty accurate. Lots of little inflection points every few years as new things are added.
- zajio1am 4y ago
  Housing can be investment even if it is in adequate supply and does not raise in value (above inflation), just from rents / saving from not-paying rent.

daniel-cussen 4y ago

Landlords you'd figure. Less competition. Less supply.

m00x 4y ago

I think your friend was pulling your leg. I'm married to a realtor and she's never heard that term. It's definitely not widespread.

koube 4y ago
I believe it's mostly a UK term. https://en.wikipedia.org/wiki/NIMBY#BANANA_and_CAVE https://en.wikipedia.org/wiki/NIMBY#BANANA_and_CAVE
skybrian 4y ago
It's a joke I've heard before, probably online, but I don't know in what circles it's popular.
- deleted 4y ago
  [deleted]
jonny_eh 4y ago
It's definitely a common term/joke in pro-housing circles. I've heard it as far back as 10 years ago if memory serves.
mistrial9 4y ago
but she is lying to you!
- m00x 4y ago
  Weird comment.
walrus01 4y ago
It is absolutely a term used in telecom related commercial real estate when talking about people who ABSOLUTELY FREAK OUT at the idea of a cellular site monopole going up on a 15'x15' patch of land behind some local gas station or fast food place, ruining the atmosphere of their already extremely aesthetically pleasing strip mall + tract home suburb. The same people, of course, who have a 5-person verizon or tmobile LTE family plan and spend a huge proportion of their waking life glued to their iphone or android phone.

hayst4ck 4y ago

If demand correlates only with population, and supply is constant, all those who own housing will see their value go up as long as the population increases. If housing is an investment it means either demand went up (population growth), or supply did not go up (housing wasn't built). I suspect that if you measure housing price adjusted for inflation per capita, you would get a measure of housing supply. The fact that house owning individuals financially gain from limiting housing supply is, to me, the defining feature of class warfare, even if people don't think they are participating in it. I think this is the basis for the statement "housing can either be affordable or an investment, but not both." Housing can either be in adequate supply (affordable) or limited (an investment).

sidewndr46 4y ago
You're correct, but missing a part of the picture. The cost of adding supply (to meet demand) goes up each year due to the perpetual increase in the building codes which must be conformed to.
- hayst4ck 4y ago
  So if we assume you are correct, if we looked at an adjusted cost of housing graph (adjusted for inflation/population), its slope would change primarily when building code regulation goes into effect?
  - sidewndr46 4y ago
    Yeah that's pretty accurate. Lots of little inflection points every few years as new things are added.
zajio1am 4y ago
Housing can be investment even if it is in adequate supply and does not raise in value (above inflation), just from rents / saving from not-paying rent.