http://conference.nber.org/confer/2017/PEf17/Diamond_McQuade...
I'm particularly excited about some of the new legislation that's just been passed that allows for by right construction if a city isn't meeting its housing needs, because it just may streamline the process of getting things built here.
Ask a property developer why rents are so high and they'll complain that ridiculous zoning and building restrictions are preventing them from building enough new supply (...and coincidentally reducing the amount of profit they will be making).
Ask a landlord why rents are so high and they'll complain that rent control is keeping the market from building enough housing (...and coincidentally reducing the amount of profit they will be making).
If you ask me, it's untaxed land - the costs of holding on to those tiny one story + garage houses were made artificially low - among other things, by prop 13. They impose a cost on others for monopolizing that land, but they aren't paying that cost, so the market signals that would fix the problem (getting them to sell up to somebody who would build denser housing to avoid a large tax bill) are severely restrained.
I liked Cambridge, MA’s model... the first 250k of your property value is removed from property taxes. Doesn’t make a dent in big expensive houses, but makes property ownership more affordable on the lower end.
I'm all for older people being given hand outs so that they can afford a comfortable retirement.
In general I'd prefer hand outs to be allocated via need rather than a real estate driven lottery, but I can understand how winners of that real estate lottery could feel like it was a fair and just system.
You should be careful with "the same people" arguments. They're almost always fallacious.
> Ramp up the taxes and the incentive they have to fight the denser housing will dissolve.
Ramp up the taxes and the incentive they have to fight the taxes will increase proportionally. Why wouldn't they capture that just like they captured zoning?
The real problem behind zoning is jurisdictional. As long as it is done on a city-by-city level, cities only have to be held accountable to the residents, not the people that they displace across their arbitrary borders. A regional jurisdiction would force zoning decisions to take into account everyone in the region, containing all the suburban residents with terrible commutes that are made worse by NIMBY protections.
Of course. The rich will fight tooth and nail to keep their entitlements. Always have done, always will.
>Why wouldn't they capture that just like they captured zoning?
They would. However, zoning is an easier process to derail because it's more localized and easier to come up with plausible sounding bullshit reasons why something shouldn't happen. In politics you shouldn't attack the shield, you should go for the jugular.
Also you could "fix zoning" and it would still be palliative at best if valuable land is ultimately still being hoarded.
Property developer profits would be higher though.
A while back there was a proposal to build a large apartment building in my neighborhood, which at the time did not have any tall buildings. Locals tried to stop it, literally putting "No Towers" signs in their windows and on their doors.
Thankfully they were not successful, so the neighborhood will soon be able to support hundreds of more people.
So, the real question is how much home density are you are adding. Further, density can get vastly higher as people would be adding 20 story buildings not just smaller apartments which means most homes would not be converted.
The rent is 2.5k * 12 = 30k a year. If someone makes $15/h * 2000 hours a year = 30k. 100% of income on a 1BR. Is your fucking view worth the costs you impose on others?
Enjoy your artificial restrictions on supply, as everyone with even one grain of common sense moves to Texas or Washington.
P.S. Rich software morons can afford it, but just because they can doesn't mean they want to get ripped off by (30k rent) + (20k state taxes) a year. Location is sticky, but once they get the equivalent job literally ANYWHERE else, they will take it, or an internal transfer.
https://goo.gl/maps/hvkzDG4u9Tp
with this random "small" street in SF
https://goo.gl/maps/dJzn86V9ers
It's even more stark when you compare larger streets. Berlin:
https://goo.gl/maps/hBg7aMA2Feu
SF:
https://goo.gl/maps/YFcVLSWHPzS2
I guess you can see why I thought the density in SF to be pretty ridiculous.
Low density wouldn't be so much of a problem, imho, if the zoning would be better. Why does a large fraction of the population have to commute downtown to the skyscrapers? Couldn't the offices be spread out a bit more? Why are supermarkets to far apart? I did a lot of walking while in SF and in many parts of the city I had the feeling that sidewalks were more decorative than meant for transportation, because there were no shops or small businesses for a kilometer or more around.
https://www.google.de/maps/@52.5351488,13.4089075,266a,35y,2...
This sort of layout in Berlin is something common in Europe that I kinda of wish existed in US cities. (Barcelona is similar too?)
You can also move to another city. Get another job. If your concern is your view or lack thereof, you are probably well off enough to do such a thing - which is a freaking luxury. Lots of folks are too poor to afford housing, let along going to another city. Can't get a proper bank account without an address. No drivers license in some states, nor proper ID instead. I'm not even sure if you can register a car if you are homeless. These things make you more mobile.
As I understand it, that's how they do it in Japan. Zoning is done at the national level.