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re: Why don't suburbs like Central and Walker ban high density developments?
Posted on 3/6/23 at 10:05 am to biglego
Posted on 3/6/23 at 10:05 am to biglego
quote:
Apartments are going up all over Katy Texas so unfortunately Katy is doomed
The issue is that when they are built, they are usually very good at attracting the exact type of renter they are looking for: young adults and young families that need affordable housing near their workplace.
The problem comes as they age and the apartment complex changes hands a few times. It becomes less desirable and the owner has to rely on section 8 vouchers to keep the rent coming in. Which means that the value of the multi family housing is artificially high, so it's harder for a developer to buy it, knock it down, and repurpose it.
2
Posted on 3/6/23 at 11:01 am to member12
quote:
. It becomes less desirable and the owner has to rely on section 8 vouchers to keep the rent coming in.
I think a lot of the issues surrounding apartments could be solved if the feds dumped the Section 8 program.
Posted on 3/6/23 at 11:12 am to member12
quote:
It becomes less desirable and the owner has to rely on section 8 vouchers to keep the rent coming in. Which means that the value of the multi family housing is artificially high
Yes, the government providing these vouchers is absolutely inflating prices. There's no ability for the market to just do its thing.
There are also a ton of grants available for lower income first-time homeowners that will cover 100% of the down payment with zero to be paid back if they live in the home for a period of time.
These people are "buying" homes with government money.
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