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A comment on Seattle officials repeal tax on large companies. Parent comment

Re:Seattle officials repeal tax on large companies by JumpCrisscross on Wednesday June 13, 2018 @02:59AM (#17300886)
> If your $1M home can be turned into a 10-flat building at $300K each, wouldn't real-estate developers buy your home (even at a premium) to destroy it and rebuild on it ?

Let this happen ten times and you have 100 new units on the market. Since nobody moves to a city to live in a particular building (i.e. housing demand, locally, is relatively independent of housing supply, at least in the short run) this will drive the apartments' prices down. That, in turn, will exert downward pressure on the price of the single-family homes.

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Re:Seattle officials repeal tax on large companies by xapata on Wednesday June 13, 2018 @03:32AM (#17301054)
Or the neighborhood gets more dense, economic activity increases, and your home value goes up. Greenwich Village ain't cheap.
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Re:Seattle officials repeal tax on large companies by patd on Wednesday June 13, 2018 @03:46AM (#17301120)
It only makes sense if there is already demand for those units which is what the article seem to suggest. If there are more than 100 families looking to live in the city, the price will not go down.
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