Re:Google is buying Chelsea Market building for over $2B
by dsnuh on Thursday February 08, 2018 @02:34PM
(#16334890)
Yeah, generally speaking, if you are comparing the same types of housing (Single Family Homes) isn't new construction almost always more expensive than the existing inventory? Unless OP is talking about building more of different types of housing (multi-family, condos, etc.), then I don't see how the cost for housing goes down without a recession, as you said.
Another issue with the "just build more" philosophy is that it takes no account of the added infrastructure stresses that drive up other prices (gas, electricity, water, traffic, public transit, medical/police/fire) in the community and can detract from the quality of life previously enjoyed by the natives.
Re:Google is buying Chelsea Market building for over $2B
by stale2002 on Thursday February 08, 2018 @02:40PM
(#16334938)
Thats not how supply and demand works.
The purpose of building more houses, is not to make new houses for the existing, poor residents to live in. The purpose is to prevent the NEW rich residents from displacing old residents.
For every million dollar condo that is built in the marina SF, that is 1 less family in the mission that will be displaced.
Once housing prices skyrocket and the cheapest buy-in starts at $700k+, nobody is in a rush to build housing for low-income demographics. New development is always just as unaffordably priced, and will continue to be until the current bubble bursts and a recession happens.