Alexandria on the Cusp of Eliminating All SFH Zoning

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don't know...sounds like eliminating SFH zoning is a boon for existing SFH owners. Won't a developer that intends to replace your SFH with a 4-plex or 6-plex be willing to offer a major premium over someone who simply will use it as a SFH?

Am I missing something?

PP here. Sure, the money's nice, but it's a one-off. We're all screwed when we go to buy a home that's the next level up. Many homeowners are already stuck in place because of interest rates and increased home values over the last few years. The issue is ill-timed and will only add to the inventory problem. And no, four townhomes here and there won't help.

Housing aside, my real issue has more to do with Council's arrogance and dismissive behavior, paired with how they talk out of both sides of their mouth. It's affordable housing all the live long day and then they pull this. It's a betrayal of trust. I'm actually not sure they even know what they're advocating for. It's like they're easily distracted by shiny buzzwords.

It seems that the existing SFH benefits through the entire homebuying process. If the current SFH will only sell for $1MM because it is zoned as SFH, but literally is worth $1.5MM overnight because a developer can now build a 4-plex...well, now you can buy that $1.25MM home for cash/minimal mortgage.

Again, am I missing something? Once the zoning changes, existing SFH owners' values will be "artificially" inflated assuming their property is actually developable into a 4-plex.

You're getting closer. In your suggestion, the SFH is newly worth $1.5M with the change. You suggest selling and taking $1.25M in cash to buy something better than what you had, but fail to realize that you'd have to spend MUCH MORE than the $1.5M.

OR...you get to pack up the life you created and move away. Otherwise, all you're buying is one of those new overpriced townhomes...because the money doesn't go as far as it once did.

Also, I don't think the increase would be artificial. It's more of a by-product of the new enhanced flexibility of the land.

I just sold my house for $1.5MM that the day before the zoning change was worth $1MM. How is it possible I have to spend MUCH MORE than $1.5MM for another house? I will agree, let's say I am moving just outside the boundary for Alexandria SFH...in theory, the house I buy there that is similar to what I just sold (let's assume the demographics of the location are the same) is cheaper because they don't get the price premium from the zoning change.

Sure, if you bought an identical home to the $1.5M one you sold, the price would be comparable. But no one does that.

In fact, your theoretical tells me you’ve never sold a home.

It sucks, so people typically don’t go through the hassle of selling just to buy a similar home in a similar neighborhood. Not unless something weird is going on—like they hate the neighbors.

Second, the answer to your question is stated in both your response and my original post. Higher prices will drive out people seeking bigger homes/affordability.

I recommend visiting Redfin or Zillow. Compare similar sized properties in Del Ray and down the parkway. Check the price per square foot. It may be helpful to you. I have a feeling you’re more of a visual person.

[Anonymous]

There's this mantra on the left that if we just build more housing, prices will fall. That may be true in places like Iowa, but it is most definitely not true in D.C. There's five million people in the suburbs who will quickly sponge up any additional supply. I guess you can buy their old place in Manassas.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don't know...sounds like eliminating SFH zoning is a boon for existing SFH owners. Won't a developer that intends to replace your SFH with a 4-plex or 6-plex be willing to offer a major premium over someone who simply will use it as a SFH?

Am I missing something?

PP here. Sure, the money's nice, but it's a one-off. We're all screwed when we go to buy a home that's the next level up. Many homeowners are already stuck in place because of interest rates and increased home values over the last few years. The issue is ill-timed and will only add to the inventory problem. And no, four townhomes here and there won't help.

Housing aside, my real issue has more to do with Council's arrogance and dismissive behavior, paired with how they talk out of both sides of their mouth. It's affordable housing all the live long day and then they pull this. It's a betrayal of trust. I'm actually not sure they even know what they're advocating for. It's like they're easily distracted by shiny buzzwords.

I'm genuinely trying to understand the bolded. You are saying that people can't move out of their homes due to low inventory and interest rates. I get that. But how would allowing multi-unit development affect that at all? I don't get it.

And if you're saying that developers will have less incentive to build the "level up" housing ("mcmansions") I guess that is true. But it is also the point. You would also be free to buy an existing one or a tear down/land yourself and build on it.

I think we can all agree that $1M townhomes can't be built fast enough to keep up with local demand. That's part of the problem. The other build down to when builders are able to squish four $1M townhomes on a lot that would have previously held a $2M new build, the land becomes more attractive/profitable.

Builders generally have access to more cash than the typical buyer and will be willing to pay a higher price to elbow out competition if the profit margins are right. Whenever a property sells, it becomes a sales comp for nearby properties. The side effect of properties selling for more is that the increases are factored in with neighbors go to sell their homes and adjust asking prices accordingly. Those $1M townhomes of today, become $1.1M townhomes tomorrow. As a baseline, we'll assume most folk's incomes aren't growing at a speed that tracks with the local home prices.

Everything gradually becomes more expensive, adding to the number of people who can't afford to move to the next level up.

Also, thinking that locals are free to manage their own tear down and build ignores that they'll have to likely outbid a more flush developer, hire a builder at a premium and require access to a greater deal of cash when compared to standard financing. It's like saying you can have this widget as long as you're willing to pay way more than it's worth. On the flip side, developers have talent and efficiencies in place, which puts them in the lead in most purchasing situations. It's a falsehood to say there's equal opportunity in the scenario. This is why we're screwed.

The bolded is the part I don't get. We are talking about existing homeowners selling in order to "level up." If everything gets more expensive, the sales price of the existing home also goes up accordingly, no?

You’re correct in theory. Yes, the existing home also grows in value BUT the major threat is the growing difference in price gaps between property types.

For example, a nice condo ten years ago might be a $300k price difference from a nice townhome in the same area. Now the spread is more like $500k-$700k.

Ten years ago you could get a nice Del Ray bungalow for $800k. Now it’s more like $1.6M+.

People are required to save and spend a lot more to get to accommodate their next stage of life. Plus rates are higher. Plus inflation. Etc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don't know...sounds like eliminating SFH zoning is a boon for existing SFH owners. Won't a developer that intends to replace your SFH with a 4-plex or 6-plex be willing to offer a major premium over someone who simply will use it as a SFH?

Am I missing something?

PP here. Sure, the money's nice, but it's a one-off. We're all screwed when we go to buy a home that's the next level up. Many homeowners are already stuck in place because of interest rates and increased home values over the last few years. The issue is ill-timed and will only add to the inventory problem. And no, four townhomes here and there won't help.

Housing aside, my real issue has more to do with Council's arrogance and dismissive behavior, paired with how they talk out of both sides of their mouth. It's affordable housing all the live long day and then they pull this. It's a betrayal of trust. I'm actually not sure they even know what they're advocating for. It's like they're easily distracted by shiny buzzwords.

It seems that the existing SFH benefits through the entire homebuying process. If the current SFH will only sell for $1MM because it is zoned as SFH, but literally is worth $1.5MM overnight because a developer can now build a 4-plex...well, now you can buy that $1.25MM home for cash/minimal mortgage.

Again, am I missing something? Once the zoning changes, existing SFH owners' values will be "artificially" inflated assuming their property is actually developable into a 4-plex.

You're getting closer. In your suggestion, the SFH is newly worth $1.5M with the change. You suggest selling and taking $1.25M in cash to buy something better than what you had, but fail to realize that you'd have to spend MUCH MORE than the $1.5M.

OR...you get to pack up the life you created and move away. Otherwise, all you're buying is one of those new overpriced townhomes...because the money doesn't go as far as it once did.

Also, I don't think the increase would be artificial. It's more of a by-product of the new enhanced flexibility of the land.

I just sold my house for $1.5MM that the day before the zoning change was worth $1MM. How is it possible I have to spend MUCH MORE than $1.5MM for another house? I will agree, let's say I am moving just outside the boundary for Alexandria SFH...in theory, the house I buy there that is similar to what I just sold (let's assume the demographics of the location are the same) is cheaper because they don't get the price premium from the zoning change.

Sure, if you bought an identical home to the $1.5M one you sold, the price would be comparable. But no one does that.

In fact, your theoretical tells me you’ve never sold a home.

It sucks, so people typically don’t go through the hassle of selling just to buy a similar home in a similar neighborhood. Not unless something weird is going on—like they hate the neighbors.

Second, the answer to your question is stated in both your response and my original post. Higher prices will drive out people seeking bigger homes/affordability.

I recommend visiting Redfin or Zillow. Compare similar sized properties in Del Ray and down the parkway. Check the price per square foot. It may be helpful to you. I have a feeling you’re more of a visual person.

DP and I'm not trying to argue with you, but genuinely understand. Certainly nobody would ever expect to sell their current home and be able to but a nicer/bigger one in the same area at exactly the price you sold? That isn't how it works...ever, regardless of how anything is zoned. And that is for exactly the reasons you cite. If I bought my home at 700K and sell at 1M, I would only expect to get something comparable to my current home for that same 1M. My existing home is literally a comp. You have to spend more to get something more. I just don't see how zoning changes this for the worse.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don't know...sounds like eliminating SFH zoning is a boon for existing SFH owners. Won't a developer that intends to replace your SFH with a 4-plex or 6-plex be willing to offer a major premium over someone who simply will use it as a SFH?

Am I missing something?

PP here. Sure, the money's nice, but it's a one-off. We're all screwed when we go to buy a home that's the next level up. Many homeowners are already stuck in place because of interest rates and increased home values over the last few years. The issue is ill-timed and will only add to the inventory problem. And no, four townhomes here and there won't help.

Housing aside, my real issue has more to do with Council's arrogance and dismissive behavior, paired with how they talk out of both sides of their mouth. It's affordable housing all the live long day and then they pull this. It's a betrayal of trust. I'm actually not sure they even know what they're advocating for. It's like they're easily distracted by shiny buzzwords.

It seems that the existing SFH benefits through the entire homebuying process. If the current SFH will only sell for $1MM because it is zoned as SFH, but literally is worth $1.5MM overnight because a developer can now build a 4-plex...well, now you can buy that $1.25MM home for cash/minimal mortgage.

Again, am I missing something? Once the zoning changes, existing SFH owners' values will be "artificially" inflated assuming their property is actually developable into a 4-plex.

You're getting closer. In your suggestion, the SFH is newly worth $1.5M with the change. You suggest selling and taking $1.25M in cash to buy something better than what you had, but fail to realize that you'd have to spend MUCH MORE than the $1.5M.

OR...you get to pack up the life you created and move away. Otherwise, all you're buying is one of those new overpriced townhomes...because the money doesn't go as far as it once did.

Also, I don't think the increase would be artificial. It's more of a by-product of the new enhanced flexibility of the land.

Wouldn't the detached house you're selling, and pocketing the money from, also be "overpriced"? Or is it that you think attached houses are inherently "overpriced" by definition?

More like it’ll feel overpriced when you think about what you last paid for your larger SFH. Besides that, townhomes are great and the market determines what’s overpriced.

[Anonymous]

Anonymous wrote:There's this mantra on the left that if we just build more housing, prices will fall. That may be true in places like Iowa, but it is most definitely not true in D.C. There's five million people in the suburbs who will quickly sponge up any additional supply. I guess you can buy their old place in Manassas.

The left? Pretty sure developers and builders are on the right.

[Anonymous]

Anonymous wrote:

Anonymous wrote:There's this mantra on the left that if we just build more housing, prices will fall. That may be true in places like Iowa, but it is most definitely not true in D.C. There's five million people in the suburbs who will quickly sponge up any additional supply. I guess you can buy their old place in Manassas.

The left? Pretty sure developers and builders are on the right.

Yeah, weirdly, the left and sleazy real estate developers are indistinguishable here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don't know...sounds like eliminating SFH zoning is a boon for existing SFH owners. Won't a developer that intends to replace your SFH with a 4-plex or 6-plex be willing to offer a major premium over someone who simply will use it as a SFH?

Am I missing something?

PP here. Sure, the money's nice, but it's a one-off. We're all screwed when we go to buy a home that's the next level up. Many homeowners are already stuck in place because of interest rates and increased home values over the last few years. The issue is ill-timed and will only add to the inventory problem. And no, four townhomes here and there won't help.

Housing aside, my real issue has more to do with Council's arrogance and dismissive behavior, paired with how they talk out of both sides of their mouth. It's affordable housing all the live long day and then they pull this. It's a betrayal of trust. I'm actually not sure they even know what they're advocating for. It's like they're easily distracted by shiny buzzwords.

It seems that the existing SFH benefits through the entire homebuying process. If the current SFH will only sell for $1MM because it is zoned as SFH, but literally is worth $1.5MM overnight because a developer can now build a 4-plex...well, now you can buy that $1.25MM home for cash/minimal mortgage.

Again, am I missing something? Once the zoning changes, existing SFH owners' values will be "artificially" inflated assuming their property is actually developable into a 4-plex.

You're getting closer. In your suggestion, the SFH is newly worth $1.5M with the change. You suggest selling and taking $1.25M in cash to buy something better than what you had, but fail to realize that you'd have to spend MUCH MORE than the $1.5M.

OR...you get to pack up the life you created and move away. Otherwise, all you're buying is one of those new overpriced townhomes...because the money doesn't go as far as it once did.

Also, I don't think the increase would be artificial. It's more of a by-product of the new enhanced flexibility of the land.

I just sold my house for $1.5MM that the day before the zoning change was worth $1MM. How is it possible I have to spend MUCH MORE than $1.5MM for another house? I will agree, let's say I am moving just outside the boundary for Alexandria SFH...in theory, the house I buy there that is similar to what I just sold (let's assume the demographics of the location are the same) is cheaper because they don't get the price premium from the zoning change.

Sure, if you bought an identical home to the $1.5M one you sold, the price would be comparable. But no one does that.

In fact, your theoretical tells me you’ve never sold a home.

It sucks, so people typically don’t go through the hassle of selling just to buy a similar home in a similar neighborhood. Not unless something weird is going on—like they hate the neighbors.

Second, the answer to your question is stated in both your response and my original post. Higher prices will drive out people seeking bigger homes/affordability.

I recommend visiting Redfin or Zillow. Compare similar sized properties in Del Ray and down the parkway. Check the price per square foot. It may be helpful to you. I have a feeling you’re more of a visual person.

DP and I'm not trying to argue with you, but genuinely understand. Certainly nobody would ever expect to sell their current home and be able to but a nicer/bigger one in the same area at exactly the price you sold? That isn't how it works...ever, regardless of how anything is zoned. And that is for exactly the reasons you cite. If I bought my home at 700K and sell at 1M, I would only expect to get something comparable to my current home for that same 1M. My existing home is literally a comp. You have to spend more to get something more. I just don't see how zoning changes this for the worse.

Check out the below quote. It suggests the up zoning will cause property values and price gaps to widen at a faster pace, the crux of the declining affordability issue at hand.

You’re correct in theory. Yes, the existing home also grows in value BUT the major threat is the growing difference in price gaps between property types.

For example, a nice condo ten years ago might be a $300k price difference from a nice townhome in the same area. Now the spread is more like $500k-$700k.

Ten years ago you could get a nice Del Ray bungalow for $800k. Now it’s more like $1.6M+.

People are required to save and spend a lot more to accommodate the next stage of life. Plus rates are higher. Plus inflation. Etc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don't know...sounds like eliminating SFH zoning is a boon for existing SFH owners. Won't a developer that intends to replace your SFH with a 4-plex or 6-plex be willing to offer a major premium over someone who simply will use it as a SFH?

Am I missing something?

PP here. Sure, the money's nice, but it's a one-off. We're all screwed when we go to buy a home that's the next level up. Many homeowners are already stuck in place because of interest rates and increased home values over the last few years. The issue is ill-timed and will only add to the inventory problem. And no, four townhomes here and there won't help.

Housing aside, my real issue has more to do with Council's arrogance and dismissive behavior, paired with how they talk out of both sides of their mouth. It's affordable housing all the live long day and then they pull this. It's a betrayal of trust. I'm actually not sure they even know what they're advocating for. It's like they're easily distracted by shiny buzzwords.

It seems that the existing SFH benefits through the entire homebuying process. If the current SFH will only sell for $1MM because it is zoned as SFH, but literally is worth $1.5MM overnight because a developer can now build a 4-plex...well, now you can buy that $1.25MM home for cash/minimal mortgage.

Again, am I missing something? Once the zoning changes, existing SFH owners' values will be "artificially" inflated assuming their property is actually developable into a 4-plex.

You are missing that people think of more that money when they think of their home and neighborhood. People plan to actually live in the houses for a really long time and do not want a 6-plex going up on either side and across the street from them. And believe it or not, they love their neighborhoods and want to sell the house to the next family who will love it the same way, not to a developer who will ruin the neighborhood no matter how much the developer offers, which is why unscrupulous developers often hide behind seemingly standard buyers.

I can only think that you must be young and single and grew up in an apartment in NYC or something, if you honestly, honestly, can't understand this.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There's this mantra on the left that if we just build more housing, prices will fall. That may be true in places like Iowa, but it is most definitely not true in D.C. There's five million people in the suburbs who will quickly sponge up any additional supply. I guess you can buy their old place in Manassas.

The left? Pretty sure developers and builders are on the right.

Yeah, weirdly, the left and sleazy real estate developers are indistinguishable here.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don't know...sounds like eliminating SFH zoning is a boon for existing SFH owners. Won't a developer that intends to replace your SFH with a 4-plex or 6-plex be willing to offer a major premium over someone who simply will use it as a SFH?

Am I missing something?

PP here. Sure, the money's nice, but it's a one-off. We're all screwed when we go to buy a home that's the next level up. Many homeowners are already stuck in place because of interest rates and increased home values over the last few years. The issue is ill-timed and will only add to the inventory problem. And no, four townhomes here and there won't help.

Housing aside, my real issue has more to do with Council's arrogance and dismissive behavior, paired with how they talk out of both sides of their mouth. It's affordable housing all the live long day and then they pull this. It's a betrayal of trust. I'm actually not sure they even know what they're advocating for. It's like they're easily distracted by shiny buzzwords.

It seems that the existing SFH benefits through the entire homebuying process. If the current SFH will only sell for $1MM because it is zoned as SFH, but literally is worth $1.5MM overnight because a developer can now build a 4-plex...well, now you can buy that $1.25MM home for cash/minimal mortgage.

Again, am I missing something? Once the zoning changes, existing SFH owners' values will be "artificially" inflated assuming their property is actually developable into a 4-plex.

You're getting closer. In your suggestion, the SFH is newly worth $1.5M with the change. You suggest selling and taking $1.25M in cash to buy something better than what you had, but fail to realize that you'd have to spend MUCH MORE than the $1.5M.

OR...you get to pack up the life you created and move away. Otherwise, all you're buying is one of those new overpriced townhomes...because the money doesn't go as far as it once did.

Also, I don't think the increase would be artificial. It's more of a by-product of the new enhanced flexibility of the land.

I just sold my house for $1.5MM that the day before the zoning change was worth $1MM. How is it possible I have to spend MUCH MORE than $1.5MM for another house? I will agree, let's say I am moving just outside the boundary for Alexandria SFH...in theory, the house I buy there that is similar to what I just sold (let's assume the demographics of the location are the same) is cheaper because they don't get the price premium from the zoning change.

Sure, if you bought an identical home to the $1.5M one you sold, the price would be comparable. But no one does that.

In fact, your theoretical tells me you’ve never sold a home.

It sucks, so people typically don’t go through the hassle of selling just to buy a similar home in a similar neighborhood. Not unless something weird is going on—like they hate the neighbors.

Second, the answer to your question is stated in both your response and my original post. Higher prices will drive out people seeking bigger homes/affordability.

I recommend visiting Redfin or Zillow. Compare similar sized properties in Del Ray and down the parkway. Check the price per square foot. It may be helpful to you. I have a feeling you’re more of a visual person.

DP and I'm not trying to argue with you, but genuinely understand. Certainly nobody would ever expect to sell their current home and be able to but a nicer/bigger one in the same area at exactly the price you sold? That isn't how it works...ever, regardless of how anything is zoned. And that is for exactly the reasons you cite. If I bought my home at 700K and sell at 1M, I would only expect to get something comparable to my current home for that same 1M. My existing home is literally a comp. You have to spend more to get something more. I just don't see how zoning changes this for the worse.

Check out the below quote. It suggests the up zoning will cause property values and price gaps to widen at a faster pace, the crux of the declining affordability issue at hand.

You’re correct in theory. Yes, the existing home also grows in value BUT the major threat is the growing difference in price gaps between property types.

For example, a nice condo ten years ago might be a $300k price difference from a nice townhome in the same area. Now the spread is more like $500k-$700k.

Ten years ago you could get a nice Del Ray bungalow for $800k. Now it’s more like $1.6M+.

People are required to save and spend a lot more to accommodate the next stage of life. Plus rates are higher. Plus inflation. Etc.

Whoah dude...don't interlope on our side conversation on zoning and values. You are butting in and taking things out of context in order to support your little argument.

Our conversation is completely about how up-zoning will help EXISTING, SFH OWNERS. The lucky ones sitting on a 4-plex development site will probably benefit because now your home is viewed as an investment property for a developer.

Now, paying let's say $1.5MM for your home (that yesterday was worth $1MM) could still be a great deal for that developer that yesterday may have had to spend $2MM to find empty property that was zoned for the duplex.

So, it is quite likely while the existing SFH owner gets this bump...it could very well result in lower condo prices.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don't know...sounds like eliminating SFH zoning is a boon for existing SFH owners. Won't a developer that intends to replace your SFH with a 4-plex or 6-plex be willing to offer a major premium over someone who simply will use it as a SFH?

Am I missing something?

PP here. Sure, the money's nice, but it's a one-off. We're all screwed when we go to buy a home that's the next level up. Many homeowners are already stuck in place because of interest rates and increased home values over the last few years. The issue is ill-timed and will only add to the inventory problem. And no, four townhomes here and there won't help.

Housing aside, my real issue has more to do with Council's arrogance and dismissive behavior, paired with how they talk out of both sides of their mouth. It's affordable housing all the live long day and then they pull this. It's a betrayal of trust. I'm actually not sure they even know what they're advocating for. It's like they're easily distracted by shiny buzzwords.

It seems that the existing SFH benefits through the entire homebuying process. If the current SFH will only sell for $1MM because it is zoned as SFH, but literally is worth $1.5MM overnight because a developer can now build a 4-plex...well, now you can buy that $1.25MM home for cash/minimal mortgage.

Again, am I missing something? Once the zoning changes, existing SFH owners' values will be "artificially" inflated assuming their property is actually developable into a 4-plex.

You are missing that people think of more that money when they think of their home and neighborhood. People plan to actually live in the houses for a really long time and do not want a 6-plex going up on either side and across the street from them. And believe it or not, they love their neighborhoods and want to sell the house to the next family who will love it the same way, not to a developer who will ruin the neighborhood no matter how much the developer offers, which is why unscrupulous developers often hide behind seemingly standard buyers.

I can only think that you must be young and single and grew up in an apartment in NYC or something, if you honestly, honestly, can't understand this.

Uh...well I wish I was young and single...but I am older and own a SFH. Sentimentality only goes so far and I will sell it to the next family that loves it...if they offer the highest price. I think you are the one that has pollyanish thinking that there are more sellers like you vs. me.

BTW, a developer offering a fair price that builds complexes according to local zoning and housing codes and delivers a quality product is not "unscrupulous".

[Anonymous]

If you think the price of your home is going to jump because of this, I have a bridge to sell you.

That's just something they say to placate homeowners terrified that some developer is going to build a monstrosity next door to them.

[Anonymous]

These threads are so ridiculous because half the people think the result will be more expensive housing and half think it will be less expensive housing and there are people who use either outcome to be for or against the change

[Anonymous]

Anonymous wrote:If you think the price of your home is going to jump because of this, I have a bridge to sell you.

That's just something they say to placate homeowners terrified that some developer is going to build a monstrosity next door to them.

Tell yourself that, but you couldn’t be more wrong. Builders aren't nonprofits and don’t build homes at a loss. The price of building materials have skyrocketed. Windows alone cost 25% more this year.

Anything that goes up (SFH/TH/Condos) will demand a higher-than-ever before sales price that makes the builder whole and then some.