And it turns out that some of that process doesn't actually help the more vulnerable groups it was intended to help, but gets hijacked by wealthy people to stop things like needed housing from going into their neighborhood.
And it turns out that some of that process doesn't actually help the more vulnerable groups it was intended to help, but gets hijacked by wealthy people to stop things like needed housing from going into their neighborhood.
Everything for inducing the demand and reducing the supply. The invisible hand of extracting values at all cost.
The neighborhood was nice, low traffic, never lock your doors(so to speak). In comes 'low income housing', ie jamming as many terrible apartment complexes as they could wherever they could.
Traffic shot way up, too much for the roads. Why would the developer care. Noise also shot up, constant noises of bass from cars at all hours. Lastly, crime shot up. I went from living almost in the middle of nowhere to having my car broken into twice in my own driveway.
Sorry all, I agree that housing is a crisis, but I no longer want dense housing anywhere near me.
Also, low-income housing sort of sucks. For example, in my area, some low-income apartments were recently constructed, but they do not have washer and dryer receptacles. It's not that they aren't included. You cannot even bring your own, because you won't have anything to hook them up to. Apparently, you are supposed to use the laundromat only.
But now that people with low income can live there, suddenly my complex no longer has to worry about those people, because the availability of the low-income apartments reduces the amount of people who would even consider living here. Suddenly, you're not losing potential customers by raising the price, because all the customers that you would have been losing are now all living in the low-income apartments instead.
That hurts people like me who have a higher standard of living (such as owning a washer and dryer) but still don't exactly make enough money to justify spending $2,000 a month for a two-bedroom apartment (ours is currently around $1,800). I suppose I'm the customer they'd be losing by raising the price, but the risk to them is probably still far lower now.
That just doesn't exist much today. You either spend more than you can afford to live with upper middle class in a house two sizes too big, or you live in shared low income apartments. They just don't build small SFH neighborhoods anymore, apparently.
I know many midwest cities with newly built small houses. Maybe not <900 sq feet. But 3-4 family bedroom houses at around 1500 sq feet. These houses are basic and inexpensive. You won't get much land either but may get a neighborhood park.
there are other constraints of course (such as isp), but right now the biggest one is that we don't have millions to spend on a single bedroom.
I was able to have a 3bd/2.5ba 1,200sqft townhome for only $1,200/month. I think there was only 1 shooting in the 3 years I lived there. Yeah there was noise, but it was also a college town so that's unavoidable in the area.
It's an idea that I felt worked very well, and I really wish more cities would try it out for semi-dense housing solutions.
North Charleston (in general) is considered an unsafe area, but this community was built to battle the stigma against Section 8 housing that is very prevalent in the Charleston area. After I moved out they've continued to build out more privately-owned homes in the community. Back in 2018 rents were around $1,200 for a 3bd, but the privately-owned homes are now renting for over $3k for 3bd, and starting around $400k for sale. While the Section 8 housing is still operating as it normally does for the area with reduced costs.
It's helped to revitalize the area (take a look at Park Circle just north of the community), while ensuring that further gentrification and displacement doesn't occur like it did in the downtown Charleston Westside neighborhood.
1. When you save your whole life for a downpayment and buy a house, you want it to at least KEEP it's value, nobody wants to buy a house and lose money. That is common sense.
2. People generally move to areas they desire for reasons. They want to also keep this the same or improve. They don't want it to deteriorate.
So now we can debate what lowers values (nominal terms) and what causes areas to be undesirable and how they get there.
What I can think of: Increases in crime, Dropping maintenance/services, increased pollution, increased noise, increased traffic etc...
Nowhere above has anything to do with "poors".
Value doesn't only mean monetary value. Social prestige is one of the values too. And sometimes they are transferable. The invisible hand is not just about the literal money
.. which they will literally state in terms of property value.
It's polite to be concerned about money and impolite to be concerned about crime?
You can't really talk about those things in polite company, so house prices are the euphemism used instead.
Now, make each one of those properties dual family housing, and suddenly you’ve got twice as many people to evacuate, but you haven’t upgraded the roads or any of the other utilities. And that’s very bad news. Unfortunately, that is exactly the situation that the Austin city council has created.
Property values are certainly going to go down as they cram more and more housing into this space. But the cost will be in human lives when the wildfires do hit.
Can we prosecute our city council for manslaughter? Or even murder? How long do we have to wait for these deaths to occur, so that we can finally prosecute for them?
Now I do have to say as a semi-libertarian I support YIMBY, building up everything and making most zoning illegal. Sorta against my self-interest.
But at the same time, I strongly dislike US poor. It's almost an oxymoron that the more meritocratic the society, the better the sorting, and thus the worse an average non-immigrant poor people are. US, compared to most places, is pretty meritocratic. An average person at the same percentile poverty level in Russia (or, I bet, Mexico or China or Nigeria or whatever) is a much better human being than a corresponding non-immigrant in the US (any race). If the way to keep the latter out is to keep local property unaffordable, so be it. I don't really care about broad property values otherwise - I don't want to move and if I do I'd probably buy a similar house.. in fact given the transaction costs, cheaper housing may make moving cheaper.
Such a perfect example.
This is complicated by a property tax law similar to rent control, where your taxes are frozen at the time of purchase. This results in a market where few people are willing to sell and most people are unable to build. Thus rental prices in the region are dirt cheap relative to home prices, versus an appalachian town where the opposite is true.
For me, this is an example of red light cameras causing MORE accidents than without the camera because it interferes with human behavior. Specifically, the painfully slow permit process causes most building to be done unpermitted and therefore at risk of harm to human life (the purpose of the permit is to assure safety). As we know, the unspoken purpose of the red light camera is revenue, thus representing a conflict of interest between true safety and revenue, and I think a similar conflict is rotting California's real estate situation as well, in service to wealth building more than it's in service to the common man.
Welcome to London, UK
There are council houses spread throughout London with no real "slums" like Chicago used to have with it's public housing.