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It's not trivially obvious that upzoning would be bad for property values. If it becomes possible to build a giant apartment building on a plot of land in a hig
by ameliaquining 2y ago
It's not trivially obvious that upzoning would be bad for property values. If it becomes possible to build a giant apartment building on a plot of land in a high-demand area, that makes developers willing to pay substantial sums for it. (The homeownership paradigm does cause various other problems, though.)
- rcpt 2y agoIt's the variance, not the expected value. People are already 5x leveraged into the asset they don't need the extra risk.
- janalsncm 2y agoNot just that, having more housing makes it possible for even more companies to move in. Apple/Google/Meta are great but they are trillion dollar companies and can afford to pay top dollar. There are many others who would like to. I believe adding more housing would induce a ton of demand.
- loeg 2y agoIn fact, in expectation upzoning directly increases property values.