2. Having moderately higher density has a lot of useful knock-on effects, like better walkability and transit support.
3. The objections are rooted in selfishness and classism/elitism. It's like someone objecting to a homeless shelter in their neighborhood because eww, homeless people. This common attitude doesn't mean we should never build homeless shelters.
A typical two bedroom in Shanghai is $870k [1]. Homes in Chongqing China are more expensive than in Columbus Ohio [2] -- yet wages are about 1/5th ($9k/yr in Chongqing vs $46k/yr in Columbus) [3]
[1] http://fortune.com/2017/07/18/china-beijing-property-housing...
[2] https://www.numbeo.com/cost-of-living/compare_cities.jsp?cou...
[3] https://www.statista.com/statistics/278350/average-annual-sa...
Also, earthquake protection makes SF based buildings more expensive to build, especially as they grow tall.
China has a massive housing imbalance. The skyscrapers are being purchased as investments by the newly rich and are out of reach to low/middle income folks. Also, not all those skyscrapers are good quality. In our condo on the 37th floor, we had to have the bathroom flooring completely redone because there were leaks all over the place. This building was built like 5 year ago! In addition, when you walk around the construction sites of those new skyscraper projects, you see those countryside workers crowded into hastily constructed dorms, 4 or 5 people in one tiny room. You can see them sitting around eating their small portion of rice and veggies. It is definitely a sight that would make most “living wage” Americans cringe...
My wife grew up in China and she loathes skyscrapers. We bought a single family home here in the USA with a nice size backyard and she has the happiest wife in the world. She often goes in our backyard just to sit and watch the squirrels. She also has a piano which she can play any time of the day. In China, neighbors complain when start playing your piano in those crowded skyscrapers....
I have an unproven hypothesis that most people on the planet would love their own single family home like we have here in the US. They aren't living in those dense urban areas because it is hip and cool. They are living there because they have no choice.
My guess is that if we re-zoned the Bay Area and replaced 1/4 of the current single family homes with 3-to-6-story apartment buildings we could cover several decades of regional housing demand and push housing prices down by 50%.
1: where? and 2: these homeowners will oppose it, because it still drives down the value of their investment because it drives down demand.
There is no way to drive down demand but keep prices high. That's not how economics works.
2. The logic being, if you have to screw people out of their equity (retirement) might as well make the smallest footprint.
I can't even touch the housing market in an area inconvenient to my work without literally hundreds of thousands of dollars in liquidity. That is cash that I simply do not have, nor do I have wealthy relatives that can front me the money. Please don't assume that just because an engineer has, what looks like a high income on paper, that they can even afford houses that cost millions of dollars in a high cost of living region as the Bay Area.
My coworkers that have set down roots here have to drive hours, and they're also making "at least 100k a year". What about the engineers that need jobs and homes, and the people that move just for their job? City's full, go away.
You and the parent agree. guywaffle's comment talks about people who make much less than you and are in the exact same situation. Absolutely true that a high income doesn't make spending 50% of it on housing any better. And someone who makes a smaller amount doesn't even have that option. You're both screwed, just in different degrees.
You are looking to moving out of the Bay Area for cheaper rent. There are people who make a lot less than you who can’t afford to live here. They drive from Tracy and Stockton to get paid a fraction of what you get. Stop crying.
You're watching it play out, but some seem to not like that the residents of the city have a greater say than the "not residents" of the city. I find that perfectly natural, normal, and desirable.
To sell the 3 units in the new lot, they will have to be relatively high end and there will probably be no clear net plus/minus in property values attributable to them. Instead of fighting the change tooth and claw, the neighborhood should be ensuring that the development as-built is high quality. For one, the lot setbacks look like to be as much as 20 feet, which is quite good.
Why not just build a massive cluster of skyscrapers and put all the people who want cheap rent there? It would cause much less impact on the existing homeowners at large. To me that is a much more equitable solution for both parties.
Personally, I would say if you can't afford to live there, don't. There are plenty of places to live and many people do.