Making housing more affordable means your home's value will have to come down
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Re: Making housing more affordable means your home's value will have to come down
#2Not necessarily. If you add density to an existing lot, your land increases in value, and since it’s likely the majority of the value of your property, your property probably goes up in value. Then, the increased supply decreases the cost of shelter.
Re: Making housing more affordable means your home's value will have to come down
#3Why do new homes have to be built in competition with existing homes? With remote work and the digital elite moving wherever, why not just pop up new developments wholesale, complete with shopping and services somewhere out of the way and cheap?
Re: Making housing more affordable means your home's value will have to come down
#4Why do new homes have to be built in competition with existing homes? With remote work and the digital elite moving wherever, why not just pop up new developments wholesale, complete with shopping and services somewhere out of the way and cheap?
You've just invented suburbs.
Re: Making housing more affordable means your home's value will have to come down
#5Why do new homes have to be built in competition with existing homes? With remote work and the digital elite moving wherever, why not just pop up new developments wholesale, complete with shopping and services somewhere out of the way and cheap?
I love the power of the word "just." It pairs well with armchair pundits who can simply wave a wand and solve major problems that lots of heavily motivated people who have resources and would profit nicely from solving these problems... still struggle to solve.
Can you answer your own questions in reverse? Why aren't new developments built wholesale, complete with shopping and services somewhere out of the way (and cheap)?
Re: Making housing more affordable means your home's value will have to come down
#6Why do new homes have to be built in competition with existing homes? With remote work and the digital elite moving wherever, why not just pop up new developments wholesale, complete with shopping and services somewhere out of the way and cheap?
The real question is whether the intersection of everyone's reasonable requests is not the null set.
California Forever is trying your thing and facing massive headwinds.
Re: Making housing more affordable means your home's value will have to come down
#7Why do new homes have to be built in competition with existing homes? With remote work and the digital elite moving wherever, why not just pop up new developments wholesale, complete with shopping and services somewhere out of the way and cheap?
People do not want to live out of the way. In fact there are quite possibly lots of homes already available out of the way and cheap; I've heard some countries like Italy and Japan give them away for nearly free.
Re: Making housing more affordable means your home's value will have to come down
#8Why do new homes have to be built in competition with existing homes? With remote work and the digital elite moving wherever, why not just pop up new developments wholesale, complete with shopping and services somewhere out of the way and cheap?
Places like that already exist. They are called towns. Problem is most people want to live in large urban centers.
Re: Making housing more affordable means your home's value will have to come down
#9It’s going to be very difficult to make housing more affordable with high interest rates and high inflation. I highly doubt just increasing supply is going to be enough.
Re: Making housing more affordable means your home's value will have to come down
#10You know what is neat when housing prices go down? You pay less to upgrade your house size than when the prices go up. Despite the fact your own house value dropped.
Housing price dropping is good for basically everyone I say.