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No, that's not what I'm saying at all. "Destroy land value" doesn't mean lower housing prices, or at least lower in a productive way. Imagine you have some land
by rcme 4y ago
No, that's not what I'm saying at all. "Destroy land value" doesn't mean lower housing prices, or at least lower in a productive way. Imagine you have some land and then the city builds a dump next to the land. That destroys the value of the land because no one wants to live there anymore. Housing prices are a second-order effect based off of the land value and the availability of housing units. The new policy in California's purpose is to increase housing units, but has the potential to destroy the value of the land.
- raldi 4y agoMultifamily housing is not analogous to a garbage dump. "The study finds that the upzoning increased property values by 15-23%" http://theadvocatecornell.com/2022/02/03/does-upzoning-work/ http://theadvocatecornell.com/2022/02/03/does-upzoning-work/
- rcme 4y agoAgain, I'm not saying that multi-family housing is akin to a garbage dump. I fully support more housing. But, the state officials making these decisions have no incentive to ensure that they're preserving the land's value. Any system that doesn't provide incentives for the decision makers to make good decisions ends terribly.
- Ztynovovk 4y ago[dead]