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Densifying can allow individual homeowners to gain wealth while housing as a whole becomes cheaper. Single family home values can increase due to the land under
by HDThoreaun 2y ago
Densifying can allow individual homeowners to gain wealth while housing as a whole becomes cheaper. Single family home values can increase due to the land under them at the same time as condo values go down if we just stop building single family homes and build condos instead.
- kubb 2y agoRealistically, apartment prices will just scale up to whatever people can afford. So yes, house prices will go up, but apartments won’t become cheaper than the houses originally were.
- HDThoreaun 2y agoEmpirically I just dont think this is true. I have lived in chicago my entire life and rent prices doubled in the last decade after being stagnant for 2 decades. Its not that people are making more money, the economy here is middling. Prices are going up because we stopped building new housing. I recently bought a second home in SLC, prices there are down 10% this year even though wages in the region are up. Housing values can and do go down.