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In a low inventory market, make it a requirement to occupy a unit X days per year so that speculators cannot just come in, snap up real estate, and sit on it or
by mynameisnoone 3y ago
In a low inventory market, make it a requirement to occupy a unit X days per year so that speculators cannot just come in, snap up real estate, and sit on it or extort the people who actually live there. People may shout "Communism" but the reality is that housing is becoming a winner-take-all vs. have nots dividing line that is further repressing the economic mobility of regular people. Free up the inventory to people who actually need to use it.
- anovikov 3y agoWhy not just let developers build as much as they want by relaxing zoning? That's where the entire problem is. There's no problem building as much real estate as necessary, construction per se is cheap.
- mynameisnoone 3y agoSure, where possible. There are places that cannot build anymore because there is something everywhere. This describes most of NYC. The issue is that places where there is limited inventory and an inability to create more inventory cannot afford to let any units to go to Airbnb or to speculators.
- Qwertious 3y agoNYC's construction regulations are completely fucked and prevent tons of new apartments being built, I'm not sure it's a good example.
- mynameisnoone 3y agoToo bad because I'm talking about it. NYC is the original big city with big city problems that cannot be avoided by changing the subject.
- anovikov 3y agoAirbnb won't go there if they were not filled, and every city needs visitors as well as residents. So airbnbs aren't a problem. Speculation isn't a problem as long as they keep the units occupied. And vacancy rate is lower than average in NYC. So it sounds like a simple fact that demand outstrips supply. Only way to "fix" it is by making NYC a less attractive place to move into (increase local taxes, reduce spending thus stimulating crime, etc.), or make it harder to move (something along the lines of Soviet registration system). Both appear to be less than desirable, to say the least. Face it: there is no way people could move limitlessly into a desirable city and keep it affordable. Whole point of attraction is unafforability.
- crotchfire 3y agoHouston, TX has no zoning at all. If this is such a great idea, I assume you've already moved there and love it?
- direwolf20 3y agoHouston, TX has some covenant system which is equivalent to zoning but with a different name.
- crotchfire 3y agoUm, no.
- throwaway79292 3y agoI think this is what GP was referring to: https://www.houstontx.gov/planning/Neighborhood/deed_restr.html https://www.houstontx.gov/planning/Neighborhood/deed_restr.h... From a YIMBY/increased density advocate point of view, it sounds to me like it has a similar effect to zoning in preserving low density single family home neighborhoods.
- crotchfire 3y agoDeed restrictions exist in all 50 states. There's nothing special here. They even have them far, far outside the cities. I know a guy whose neighbor's property has a deed restriction preventing cattle grazing within 200 feet of a neighboring property's water well (even if the grazing isn't on their land).
- stale2002 3y agoYes, it is very common for there to be housing restrictions. Thats the entire point and is what people are saying is the problem! Therefore, in order to allow the building of higher density housing, those regulations, whether they be actual laws, or deed restrictions, need to be removed.