Viewing a single comment thread. View all comments

automaton11 t1_jbrfroi wrote

Reply to comment by fishythepete in Fane Tower project in Providence is dead by The_Dream_of_Shadows

Doesnt this perpetuate the inflation thats causing the crisis in the first place? The way to treat it is to add housing to the middle of the curve, balancing the function. Adding housing to the right hand side of the curve only pushes everyone down to the left and perpetuates the problem, albeit with richer and richer people. See also: Manhattan

0

fishythepete t1_jbrhswe wrote

Let’s talk about the middle of the curve when it comes to housing. You know what term can almost universally describe it? Used. 10,20, 50 years old. At least that here in New England.

There is next to no economic incentive to build new low cost housing, just like there’s nearly no economic incentive to build new low cost cars. Most consumers would sooner buy a $5,000 used car with AC and power windows than a $5,000 new car with neither.

So it is with housing. New market rate housing (short of those tremendously successful housing projects we flirted with in the 60s / 70s) is always the top of the market. But if it’s never built, then it will never be there in 30 years as a moderate cost housing option.

13

meme-scraperr t1_jbtj26z wrote

YES!!!! Agreed. Thank you! So frustrating these people all have that same “luxury housing” line

4