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re: The Atlantic: the great affordability crisis breaking America

Posted on 2/10/20 at 11:21 am to
Posted by cahoots
Member since Jan 2009
9134 posts
Posted on 2/10/20 at 11:21 am to
(no message)
This post was edited on 2/11/20 at 7:27 am
Posted by Flats
Member since Jul 2019
28117 posts
Posted on 2/10/20 at 11:23 am to
quote:

Because about a third of the US lives in the top 10 major cities in the US


Then two thirds of the US doesn’t gaf about their housing “crisis”.
Posted by NYNolaguy1
Member since May 2011
21764 posts
Posted on 2/10/20 at 11:27 am to
quote:

Then two thirds of the US doesn’t gaf about their housing “crisis”.


It didnt take a third of houses to foreclose to cause a recession.

It is easy to ignore things until they affect you personally, right?
Posted by kingbob
Sorrento, LA
Member since Nov 2010
70456 posts
Posted on 2/10/20 at 11:29 am to
Well, the government is part of the difference. Their tax structure attracted the massive investments by industry to have so many jobs locate in and around the Woodlands, causing more demand for housing.

In addiTion, the Woodlands has very strict property regulations with regards to road offsets, single family verses multi-family dwellings, landscaping and aesthetic architecture. Those make developing property in the Woodlands more expensive than in Mandeville, contributing to the higher prices per square foot.
Posted by uway
Member since Sep 2004
33109 posts
Posted on 2/10/20 at 11:30 am to
quote:

And what do New York, Boston, Seattle, and San Francisco have in common?


Many things but surely the most important thing for this discussion is that people with money see them as very desirable places to live.

You can't seriously think that housing would be cheap in New York if only New York had a "conservative" mayor and electorate?
Posted by ShortyRob
Member since Oct 2008
82116 posts
Posted on 2/10/20 at 11:33 am to
quote:


You can't seriously think that housing would be cheap in New York if only New York had a "conservative" mayor and electorate
the point isn't that it would be cheap because obviously wouldn't be. The point is that the government piles on

As you pointed out. Incomes are generally higher in these places. This means the same taxation rate would yield higher revenue and yet most of these locations have higher rates. Not Justin income taxes but in every kind of tax.

Then they do stupid stuff like rent control which actually makes the problem worse

These places would already be more money in terms of cost of living but their local governments exacerbate the problem.

This post was edited on 2/10/20 at 11:35 am
Posted by KiwiHead
Auckland, NZ
Member since Jul 2014
37509 posts
Posted on 2/10/20 at 11:38 am to
But local zoning laws and HOAs with strict covenants is a function of loca government reflecting the desires of the local electorate.

I am not seeing the problem if the local municipal governments want to make it easy for taxpayers to protect their real estate investment(s)
Posted by kingbob
Sorrento, LA
Member since Nov 2010
70456 posts
Posted on 2/10/20 at 11:42 am to
Local zoning laws were considered unconstitutional at the national level up until Village of Euclid, Ohio v. Ambler Realty Co. in 1926.
Posted by uway
Member since Sep 2004
33109 posts
Posted on 2/10/20 at 11:51 am to
quote:

The point is that the government piles on


Ok.

But am I wrong to suspect that absent all government intervention, these places would be populated virtually entirely by upper class people?

quote:

Then they do stupid stuff like rent control which actually makes the problem worse

It makes the shortage worse and the quality of housing worse. But does it make housing less affordable?


If the problem is affordability, and it is, and the discussion is revolving around taxes, that seems like missing the point.
Posted by GoT1de
Alabama
Member since Aug 2009
5041 posts
Posted on 2/10/20 at 11:56 am to
Also, there is a big problem in New York and San Francisco with unused residential space taken by foreign investors (mainly the Chinese) who own the houses and apartments but leave vacant and that lowers the supply.
Lower supply/higher demand means higher prices.
Posted by kingbob
Sorrento, LA
Member since Nov 2010
70456 posts
Posted on 2/10/20 at 11:56 am to
Yes, because what most of these regulations prevent is demolishing existing buildings to make way for bigger, taller buildings. This prevents population density from increasing. More density means more supply for both the urban core AND the suburbs. This would push some lower income people out of the urban core, but would bring in a lot of suburban people, and prices would be substantially lower in the suburbs and outlying urban areas that are presently expensive as well.
Posted by cahoots
Member since Jan 2009
9134 posts
Posted on 2/10/20 at 11:58 am to
(no message)
This post was edited on 2/11/20 at 7:28 am
Posted by kingbob
Sorrento, LA
Member since Nov 2010
70456 posts
Posted on 2/10/20 at 12:00 pm to
quote:

. You think suburban Texans are gonna vote for building huge apartment towers in their backyards? We’ll see.


This

That’s why Houston has no zoning laws.
This post was edited on 2/10/20 at 12:01 pm
Posted by cahoots
Member since Jan 2009
9134 posts
Posted on 2/10/20 at 12:05 pm to
(no message)
This post was edited on 2/11/20 at 7:28 am
Posted by dewster
Chicago
Member since Aug 2006
26608 posts
Posted on 2/10/20 at 12:07 pm to
Those middle class families should leave if they can.

Many already have fled Boston, NYC, and San Francisco for Atlanta, Houston, or Dallas. Their lives are better for it.
Posted by deltaland
Member since Mar 2011
102652 posts
Posted on 2/10/20 at 12:10 pm to
I’m going through the process of buying a house here in Ms in a nice neighborhood on a bayou that’s 2,600 sq ft, 4 bedroom, 3 bath for only 55 dollars a sq ft.

Sucks for those living in liberal hellholes
Posted by BlackAdam
Member since Jan 2016
7176 posts
Posted on 2/10/20 at 12:10 pm to
quote:

And what do New York, Boston, Seattle, and San Francisco have in common? Liberal hotbeds with liberal leaders and ridiculous taxes...but the author fails to address that.


Also.... the big one... they have price controls.
Posted by dewster
Chicago
Member since Aug 2006
26608 posts
Posted on 2/10/20 at 12:14 pm to
quote:

You also don't have to live right in the heart of the city. Commute, drive 1-2 hours if you have to, millions of people do just that.



Another lesson.

If you like your neighborhood and want to stay in the area long term....save up and try to BUY a place and take care of it. Shield yourself from being displaced when rent skyrockets.

So many people in Chicago complain about gentrification. So many of them are long term renters that could have bought in long ago.
This post was edited on 2/10/20 at 12:18 pm
Posted by Hopeful Doc
Member since Sep 2010
15388 posts
Posted on 2/10/20 at 12:17 pm to
quote:

Move to where you can afford a house or share a house with another family.
I can’t afford a place on the beach in Malibu so I don’t live on the beach in Malibu. Crazy concept I realize.



But what if, like, you really wanted to live in Malibu? That isn't fair.
-AOC, probably
Posted by WildTchoupitoulas
Member since Jan 2010
44071 posts
Posted on 2/10/20 at 12:18 pm to
quote:

And what do New York, Boston, Seattle, and San Francisco have in common?

High demand for a limited supply of real estate.
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