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People who think more housing lowers housing prices have never been to a big city. Waiting for the “But Tokyo!” guy.
by TedShiller 4y ago
People who think more housing lowers housing prices have never been to a big city.
Waiting for the “But Tokyo!” guy.
- lmm 4y agoMore housing lowers housing prices and makes the city better, which attracts more people, which raises housing prices. It's hard to separate the two effects, but if you compare a city that builds more with a city that builds less, building less has little to recommend it. And yes, Tokyo is a good example.
- TedShiller 4y agoProblem solved. Tokyo.
- linksnapzz 4y agoThat also requires ~30 million Japanese, without which you might end up with a very different city.
- cultofmetatron 4y agomore people in a city making more efficient use of global resources doesn't sound like a worst case scenario
- Gigachad 4y agoPrice is supply/demand. More housing usually came because of a huge population causing more demand. Population is almost like a force of gravity where dense places can never build enough because more always want to come.
- TedShiller 4y agohttps://en.m.wikipedia.org/wiki/Induced_demand https://en.m.wikipedia.org/wiki/Induced_demand The answer is actually less housing.
- Gigachad 4y agoIf your goal is lower prices in one specific area. You won't be able to live there because it will all be occupied, but the people who do will enjoy lower prices I guess. But house prices don't exist in isolation. A denser area will have better, higher paying, more specialized jobs, more options for entertainment/lifestyle, better access to just about everything. So the higher prices are worth it.
- TedShiller 4y agoDenser areas aren’t worth it if you like peace and quiet, nature, and physical safety.