That would make more sense if schools weren't already a public good and required by the state constitution. Public infrastructure and services have historically been paid for primarily through taxes- "paying back" for the construction through their taxes that go to other new projects elsewhere in the county, that repay bonds, and that fund the maintenance and operation across the area. Now that you're already a resident, you want new residents to pay twice-- first through development fees and then through taxes. |
You people decrying "developer profits" need to stop until you move into a home that was only built by a non-profit. Else, you are a total hypocrite. "Profit" is not a bad thing unless you are a 18 year old DSA member living in your parents basement. |
I like how you conveniently avoiding talking about the IZ tax. Thanks, I accept your concession. |
We now have a system where some landlords won’t pay at all, either through impact fees or property taxes. |
DP. You still haven’t addressed home ownership by anyone other than landlords. Convenient. Landlordism is to capitalism what a tapeworm is to a person. |
They're just demonizing developers because they can't use racially restrictive covenants anymore. That is the history of Kemp Hill, after all. |
Since you claim to want below-market-rate housing built, how do you propose incentivizing it? And who would pay for it? |
Homeownership is an accessible way for the middle class to build financial stability. The homeownership rate in the US is globally in the middle range and there are around 50 countries that have higher homeownership rates. The high-density development policies you support effectively trap middle income and below households into a permanent renter status which will prevent them from accumulating wealth for their families. It’s usually more profitable and efficient for developers to sell multifamily developments to private equity funds than to sell units to individual buyers. |
Please talk to any financial advisor. Renting and putting money into average index stocks will bear tremendous value. Homeownership is only more valuable when you artificially restrict the building of homes, which inflates the value. Please tell me how homes can continue to rise in value more than inflation and go on forever? Please tell me how that makes sense. Homes cannot be both an investment and affordable. NIMBYs think the investment side is free and doesn't incur a cost on society. It does - on renters and the poor. But NIMBY homeowners don't care about those people. |
OK, dude. I guess that’s why the big developers own houses. I don’t think of my house as an asset. I think of it as a place to live. One side benefit of owning is that I’m still paying 2010 prices for my house instead of having the rent go up every year. That means I’m investing a lot more in index funds (and REITs too!) than I could if I were still renting. I literally spend about 15 percent of my monthly income on PITI. Literally no one is better off having to spend 33 percent of their income on housing for life. Owning is tight for the first few years but eventually you can inflate your way out of the payment and life is good. Also, my house has kept appreciating even as 100s of houses and a few hundred apartments have been built within walking distance. |
All,
Let him live in his own little happy world. Please don't try to explain his mortgage amortization schedule to him. |
Not sure who you think you’re talking to but I’ve spent a lot less on housing in the last 15 years than I would have if I kept renting. |
I'm sure that's true, but you also 1) got in near the bottom of the market and at unprecedented, low interest rates, 2) probably haven't moved in that time, and 3) have been a beneficiary of tax subsidies. |
Not as much as the landlord class. Landlords will always want to raise rent, so it’s hard to get ahead if you’re renting. There wouldn’t be a housing crisis if landlords hadn’t spent so much money getting politicians to rig the rules to favor constructing rentals. The business model is the crisis. |
This is just as ridiculous and cringe as the posters the YIMBY’s love to share that says something like, “I’m always suspicious of Black Lives Matter signs in front of a house. The real test is how they feel that apartment building goes up across the street.” Aside from being terrible logic…it’s bizarre to try to falsely equate an argument with racism. Cops shouldn’t shoot Black people, also something about apartments! It’s shameful to use the movement to support your hobby project. I mean, I guess I get it, because YIMBYville is 100% Honkeytown, USA, but do these Sim City nerds really not understand how patronizing that is to people of color? How they assigned them an economic class and housing type based on their race? I guess that clearly in the YIMBY mind POC wouldn’t be homeowners that also care about whether or not an apartment building then goes up across the street from their house. They jus’ po’ folk that needs some white saviors. |