Re:For first time since 1880s, more young Americans live wit...
by antisthenes on Tuesday May 24, 2016 @11:55PM
(#11767563)
> Why is housing more expensive?
Probably because land area is zero-sum and population is twice the size it was in the 60s.
Also rent-seeking, foreign investors buying houses with cash, etc.
It's a combination of factors.
> We should be rezoning inner rung suburbs and cities for increased density housing.
Agreed. Most of the suburbs are hideous, inefficient (most houses built before 1973 have marginal to no insulation) and in many places crumbling from age.
Our parents just didn't get to buy a house for cheap. They also got all the increase in value. We have to buy an expensive house that probably won't increase in value all that much.
Why is housing more expensive? I'm not totally sure, but I suspect it's the effect of stretching suburbia to the limits. When my parents house was built it was the frontier between rural Illinois and the Chicago suburbs. Now it's considered a middle rung suburb. There are suburbs an hour further away from Chicago. But we've hit the limits on what a person can tolerate re:commutes. You just can't commute for over 2 hours each way.
We should be rezoning inner rung suburbs and cities for increased density housing.
Then again telecommuting and/or autonomous cars might destroy all the downsides to commuting.