3 ms·

But I don't think people are arguing that total demand has skyrocketed, as I'm sure there are plenty of cheap and affordable houses in places such as Flint and

by gaadd33 13y ago

But I don't think people are arguing that total demand has skyrocketed, as I'm sure there are plenty of cheap and affordable houses in places such as Flint and other rust belt cities. The problem is the locations with jobs have seen an increase in demand without an increase in supply and those same locations are the ones that are attractive to foreign investors and immigrants. So you end up with all the demand in a few concentrated areas vs spread equally around the country.

lkrubner 13y ago
You write: "But I don't think people are arguing that total demand has skyrocketed" and yet you can see that I am responding to a comment that starts with these words: "Much of the demand increase is domestic"
- gaadd33 13y ago
  As you said that total domestic demand hasn't increased as it was just a change in preference, I was implying that no one is arguing that the total demand for housing in the United States has suddenly skyrocketed. The change in preference, as you called it, creates demand in specific areas of the US while creating a surplus in many other areas. I believe the impact of foreign investors has only increased the localized demand however they probably haven't done much to increase the overall demand for housing in the country.
- akgerber 13y ago
  This article is mostly about the NYC submarket of the metro NYC market. NYC used to contain much of the working-class housing in the NYC metro area, but as demand for NYC housing has increased as urban living has become desirable, a lot of that working-class housing has moved upmarket, while new working-class housing has barely been created. So in the NYC submarket, total demand has definitely increased. Outside of city limits, it is often somewhere between illegal and very difficult to build new multifamily housing.

3 ms·

But I don't think people are arguing that total demand has skyrocketed, as I'm sure there are plenty of cheap and affordable houses in places such as Flint and

by gaadd33 13y ago

lkrubner 13y ago
You write: "But I don't think people are arguing that total demand has skyrocketed" and yet you can see that I am responding to a comment that starts with these words: "Much of the demand increase is domestic"
- gaadd33 13y ago
  As you said that total domestic demand hasn't increased as it was just a change in preference, I was implying that no one is arguing that the total demand for housing in the United States has suddenly skyrocketed. The change in preference, as you called it, creates demand in specific areas of the US while creating a surplus in many other areas. I believe the impact of foreign investors has only increased the localized demand however they probably haven't done much to increase the overall demand for housing in the country.
- akgerber 13y ago
  This article is mostly about the NYC submarket of the metro NYC market. NYC used to contain much of the working-class housing in the NYC metro area, but as demand for NYC housing has increased as urban living has become desirable, a lot of that working-class housing has moved upmarket, while new working-class housing has barely been created. So in the NYC submarket, total demand has definitely increased. Outside of city limits, it is often somewhere between illegal and very difficult to build new multifamily housing.