4 ms·
I think the idea of "stable neighborhoods" is complex and misses the point. If supply goes up, existing homeowner value goes down, the amount landlords can ask
by hayst4ck 3y ago
I think the idea of "stable neighborhoods" is complex and misses the point.
If supply goes up, existing homeowner value goes down, the amount landlords can ask goes down. I don't see any reason it is more complicated than that, the entrenched interest is obvious.
Doubling the housing in a neighborhood could halve peoples entire net worth.
- MichaelZuo 3y agoEven if the proposal was a fancy luxury condo, with per unit prices averaging more expensive then the existing homes, it would still be heavily resisted because of the inconveniences associated with construction, higher pressure on local services, etc... So even if the average home prices slightly increased it would still be the same dynamic.