3 ms·
And along with permitting/zoning BS, there is also many other headwinds for real estate: high aggregate income, land scarcity, automation challenges (no prefab
by biophysboy 10mo ago
And along with permitting/zoning BS, there is also many other headwinds for real estate: high aggregate income, land scarcity, automation challenges (no prefab houses), and high labor costs.
- osiris970 10mo agoIs land scarcity really an issue? Genuinely asking, cause curious
- biophysboy 10mo agoIn the places people want to live, yeah. It would be great if Manhattan were twice as wide, for example. There is the artificial scarcity from the zoning stuff, but then there is also just the geographic boundaries and human preferences for the "cool part of town".
- osiris970 10mo agoCouldn't we just build higher?
- biophysboy 10mo agoAbsolutely you can, and we should! not saying manhattan is maxed out
- doom2 10mo agoManhattan already builds higher. It just so happens that that new real estate is being sold as multi-million dollar condos instead of affordable housing (for certain definitions of "affordable")
- osiris970 10mo agoThat's fine. Affordable housing depresses building and raises rent
- biophysboy 10mo agoYou could make the case that some of the luxury condos (e.g. the skinny buildings by central park) are not dense enough. It only has 60 condos and its 84 stories. Its kind of analogous to the McMansion issue in suburbs. I agree w/ your point broadly though.