3 ms·
It has a lot more to do with artificial constraints on supply that developers have some part in continuing, as do wealthy homeowners who don't want to let anyon
by jobs_throwaway 4y ago
It has a lot more to do with artificial constraints on supply that developers have some part in continuing, as do wealthy homeowners who don't want to let anyone else in. If we automatically upzoned districts where rent increased past a certain threshold (ie remove the constraint on supply), I guarantee you we'd be able to find developers who would build more apartments.
- mrguyorama 4y agoI'm not convinced. Everywhere I look where developers are "allowed" to develop, more like there are giant plots of land for dirt cheap, builders don't make homes that cost $100k, they build homes that cost $450k. Why would a builder put immense fuss and effort and stress into making a hundred brand new low income homes that will be a pain and suck to get sold and won't be able to charge much for because low income when they can build one mcmansion and be set for like ten years with a good client who will accept a 400% markup because they haven't understood what a dollar is worth in a decade?
- jobs_throwaway 4y agoThat's not how it works. The developers build luxury apartments, and the wealthy people who are living it shitty, 100+ year old buildings (most of Lower Manhattan, for example) move into those buildings. The old, shitty apartments then become less expensive and lower-income people are able to live there.