Re:Proposed CA law tells cities: Build more, or we’ll do it ...
by crdoconnor on Saturday December 10, 2016 @09:50AM
(#13145851)
>"they don't want high density housing to ruin the neighborhood".
In all likelihood they probably just don't want more supply driving down prices.
If you've got a $1 million mortgage on a $1.4 million bungalow you're not exactly going to be pleased if the housing crisis comes to an abrupt end and you're plunged deep into negative equity.
There seems to be some tiptoeing around this elephant when it comes to the politics of land development though.
In all likelihood they probably just don't want more supply driving down prices.
If you've got a $1 million mortgage on a $1.4 million bungalow you're not exactly going to be pleased if the housing crisis comes to an abrupt end and you're plunged deep into negative equity.
There seems to be some tiptoeing around this elephant when it comes to the politics of land development though.