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spitefulcum t1_j4mhocq wrote

Reply to comment by noldshit in New apartment buildings in low-income areas lead to lower rents in nearby housing units. This runs contrary to popular claims that new market-rate housing causes an uptick in rents and leads to the displacement of low-income people. by smurfyjenkins

in progressive circles there is a lot of rhetoric about new housing increasing rent prices. gotta slap down those nonsense claims from time to time.

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Hour-Watch8988 t1_j4od9yc wrote

It’s not totally insane to think that amenity effects of development might outweigh supply effects on price at a hyper-local level. Some prior research sometimes showed this. But more housing supply always helps bring down rents at the regional level, so we should be doing it anyway.

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DawnOnTheEdge t1_j4o37r0 wrote

Whereas conservatives seem much more comfortable saying, “I know that building more housing will make housing cheaper, and I don’t want that because I’m selfish.”

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invisiblink t1_j4o8ev8 wrote

It’s not just conservatives. It’s anyone with investments in housing, especially when it’s a significant source of their income. People can be selfish all across the political spectrum.

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sjandixksn t1_j4otpwu wrote

I'd say lay people with houses yes but not people with investments. I wish they would change zoning laws. I'd be happy to provide more housing, but you can only put 4plexes so many places so we're forced to buy SFH.

If you let us we would build 4plexes on every lot. They're actually worth more than SFH and are valued based on math reasons. Any actual investor wants this because we would actually make more money providing more housing.

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stu54 t1_j4p12il wrote

You'd make more money, but your competitors would make less. That is what this research states, and why we won't see more multiplexes.

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sjandixksn t1_j4q3zwi wrote

Not competitors but everyday homeowners. It would certainly increase the wealth of the 1% but you all would have more cheap housing.

Or play the game as is and normal people can buy homes and get into the middle the class that's basically the trade.

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stu54 t1_j4sbf78 wrote

Everyday homeowners don't build housing developments. You might say that they don't control the means of production. Landlords and developers create an environment of legal restriction to ensure that competition does not cut into the profits of their business model. Nimby homeowners just jump on the bandwagon.

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sjandixksn t1_j4skibl wrote

I literally was saying the opposite.

Real estate professionals would love for there to be nk environmental restrictions. You can't put that on us. That's your average homeowner. Not your re investor or developer.

If you think it is you don't understand as much as you think you do.

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stu54 t1_j4st38u wrote

What I meant by "environment of legal restriction" was strict building codes, stubborn approval processes, and zoning. I wasn't talking about environmentalism.

Environmental restrictions can fulfill that function of restricting supply in a way that benefits landlords, but the developers would be burdened with extra costs for surveys.

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Jake_FromStateFarm27 t1_j4oqy1k wrote

I often see the discussion being framed as the supply for housing never meeting the demand therfore prices continue to rise steadily, which is mostly true and larger metro areas like NYC/New Jersey metro area. There hasn't been any new construction enmasse to meet the demand on top of the fact this tri-state area is a highly desirable area to live in with some of the largest population density per capita. Move somewhere else like cleavland or Atlanta and you have a very different story, where the demand to move there is far and few so development actually helps reduce costs of homes/rent (although Georgia in general has been starting to see major increases in population the past few years due to corporate tax breaks resulting and many major companies to move offices to the state).

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cantdressherself t1_j50phig wrote

Not as effective as we would hope, you can't logic someone out of a position they didn't logic into.

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