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If you want to live in Manhattan, go live in Manhattan. I run by the Painted Ladies regularly as the sun rises and I love being able to see the skyline behind t

If you want to live in Manhattan, go live in Manhattan. I run by the Painted Ladies regularly as the sun rises and I love being able to see the skyline behind them. Sure, we should have higher density apartments in more areas, but they'll probably still all cost the same, the demand is pretty unlikely to be met and landlords will continue to charge insane rents no matter what. They'll probably all be luxury apartments as everyone is looking to maximize their profits.

doomroot 3y ago
Increasing any amount of supply will decrease prices while demand stays constant. Do you have reason to believe demand will grow at the same rate as new housing is built?
- rurp 3y ago
  I mean, yes? Housing prices have continued to shoot up in many western cities despite large increases in housing supply. It's weird to me that the concept of induced demand is pretty common knowledge when it comes to road traffic, but mostly ignored in housing discussions.
  - mrguyorama 3y ago
    >I mean, yes? Housing prices have continued to shoot up in many western cities despite large increases in housing supply. Well yes, because we have decades of undersupply to correct! Of course a small step in the right direction doesn't magically fix everything. We need to build WAAAAYYY more, like to a vast overabundance, which capitalism unaided can never do because a builder will never start building a hundred rooms if that makes the market go down because that would ruin their profits elsewhere. I would be surprised if, after there is enough supply, there is an "induced demand" effect for housing. Humans take like 20 years to go from born to needing a house, and most people don't choose to have children when they otherwise wouldn't because of cheap housing.
- nradov 3y ago
  As long as the Federal government has a de facto open borders policy, demand will continue growing. I'm not trying to start an off-topic debate about immigration policy here, but regardless of your feelings on that issue the reality is that today we have a lot of people crossing the border and looking for places to live. https://www.pbs.org/newshour/world/u-s-allowing-hundreds-of-thousands-of-venezuelans-in-the-country-to-work-legally https://www.pbs.org/newshour/world/u-s-allowing-hundreds-of-...
phendrenad2 3y ago
NYC weather sucks though
- ghaff 3y ago
  Not especially. Depending on your preferences it’s probably better than at least 75% of the country. It’s more like the Bay Area is uniquely good than that NYC is uniquely bad.

doomroot 3y ago

Increasing any amount of supply will decrease prices while demand stays constant. Do you have reason to believe demand will grow at the same rate as new housing is built?

rurp 3y ago
I mean, yes? Housing prices have continued to shoot up in many western cities despite large increases in housing supply. It's weird to me that the concept of induced demand is pretty common knowledge when it comes to road traffic, but mostly ignored in housing discussions.
- mrguyorama 3y ago
  >I mean, yes? Housing prices have continued to shoot up in many western cities despite large increases in housing supply. Well yes, because we have decades of undersupply to correct! Of course a small step in the right direction doesn't magically fix everything. We need to build WAAAAYYY more, like to a vast overabundance, which capitalism unaided can never do because a builder will never start building a hundred rooms if that makes the market go down because that would ruin their profits elsewhere. I would be surprised if, after there is enough supply, there is an "induced demand" effect for housing. Humans take like 20 years to go from born to needing a house, and most people don't choose to have children when they otherwise wouldn't because of cheap housing.
nradov 3y ago
As long as the Federal government has a de facto open borders policy, demand will continue growing. I'm not trying to start an off-topic debate about immigration policy here, but regardless of your feelings on that issue the reality is that today we have a lot of people crossing the border and looking for places to live. https://www.pbs.org/newshour/world/u-s-allowing-hundreds-of-thousands-of-venezuelans-in-the-country-to-work-legally https://www.pbs.org/newshour/world/u-s-allowing-hundreds-of-...

phendrenad2 3y ago

NYC weather sucks though

ghaff 3y ago
Not especially. Depending on your preferences it’s probably better than at least 75% of the country. It’s more like the Bay Area is uniquely good than that NYC is uniquely bad.