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> it's clear economically that wanting to limit building multi-unit housing near me enhances the value growth of my property This argument never made sense fo
by hervature 4y ago
> it's clear economically that wanting to limit building multi-unit housing near me enhances the value growth of my property
This argument never made sense for me. Being able to put more units in the same space drastically increases the value of the land. It of course reduces the value of other things like having towering buildings around your 2 story home which blocks your view. In this sense, home owners need to turn to zoning to prevent that despite it being detrimental to their land value.
- kccqzy 4y agoThey have a different argument, namely by making sure houses are less dense, the total number of houses being built in an area is far less than what the land can support, leading to artificial scarcity in the market. The artificially limited supply then leads to high prices.
- hervature 4y agoRestricting supply obviously increases prices. That's economics 101. Their claim is that they are doing it precisely for economic gains. Whereas I'm saying that it is actually not about the economic gains because they are giving up economic value (much higher land value) in order to preserve non-economic things (neighborhood, view, etc.). My point is that an acre of land in the center of Manhattan is worth a lot of money. That value goes drastically down if something prevents you from building above 35 feet.
- ipaddr 4y agoIt lowers your house price but may increase the value of the land that has been sliced up.