I donāt know whether gdp and population growth can be compared since population growth has upper limit, isnāt it? land area is finite and we canāt assemble more ppl after certain limit right?
Pricing is a complex matter. In the last year of so, FED has pushed about 25% extra Dollars into the market. That is enough inflation to overcome the loss of demand.
CA housing affordability problem has been there a long time not just last yr. What was the reason before? Since you mentioned FED itās common to whole USA right? then why many other places are affordable?
You asked me about pricing. I answered about pricing and why they went up nationwide. Now affordability is basically an income issue. Someone unable to earn enough will have trouble affording a home or any other good anywhere in the world. Homes in the Bay area are expensive because there is not enough land to build a home for everyone at the price they can afford and the home they would want to raise a family in and at a location of their liking. One way to ease housing pressure from the Bay area would be for the jobs to move to places where the housing and other needs can be met at less. The bay area has been losing jobs for the last two decades. First came offshoring, then online, and then wfh.
Historically, a population boom results in new colonization. Something that has not happened in CA/USA for a long time. Unfortunately, some in CA think densification will solve the problem.
Single-family zoning, which SB 9 seeks to eliminate, has deeply racist roots. Originally introduced in Berkeley in 1916, the designation was used to block a Black-owned dance hall from moving into a primarily white neighborhood. The zoning not only precluded the dance hall, but also multifamily units more commonly occupied by people of color.
When people talk about āinterlopersā of their towns, maybe thatās what they have in mind.
Very funny. For left, everything in California/World is racially motivated. For example, stock market is racially bad/rigged because it has fewer participation of blacks and minorities, and stock market affects blacks and minorities disproportionately in a downturn.
More supply will raise prices? They should publish their research to earn their Nobel prize in Economics.
Itās not just the number of houses. Itās also the type of housing. In the article I linked to, a woman talked about how she could afford a home in the expensive East Sacramento area only because itās a duplex, not a mansion size house with acres of lawn. The SF multti-fam that NIMBYs fought against has lots of tiny studios with shared common space instead of full-sized kitchens. All these will sell for lower price than a standard SFH on a 6k lot.
so do you support keeping teachers housing away if you were a resident there? If yes how does having teacher as neighbor reduce quality of living?
To attempt to keep more teachers from leaving the district, the San Jose Unified School District considered building affordable rental units for teachers on some of their current school sites. However, this idea was met with extreme backlash when residents learned that two high school located in Almaden Valley, an extremely affluent region of the county, faced demolition and relocation in order for the housing units to be built. To some residents in the area, the building of affordable housing units represents an influx of lower-income, uneducated residents and a stark devaluation of their home values. Surprisingly, these residents do not seem to care that these ālow-incomeā residents are the very teachers that teach their children, and the new students that enter the school districts are the children of these teachers ā hardly the demographic NIMBY proponents should be worried about. McMahon, the deputy superintendent for SJUSD, quotes a teacher saying, āIām a person who works with your kid every day ā you trust me with your student in my classroom but Iām not good enough to be your neighbor?ā Cupertino, a city with the average home price of over $2 million, faced similar opposition when an abandoned mall was proposed to be turned into affordable housing units. Residents worried about the ālack of educationā of the new population of residents and the cultural divide that would draw in the city
Cities die due to complex reasons. Politics is always the reason. look at Detriot and its history. Same with Chicago and other cities in rust belt states around lakes.(PA, OH, MI)
That is why you do not need densification. Once you add a one unit of home, you will need 5 more to support that extra unit. There is plenty of land in the USA to build new cities rather than raiding the existing ones.
