Reply to Soooo, how is high-density looking to everyone now?

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[quote=Anonymous][quote=Anonymous][quote]But it wouldn't change the character of neighborhoods particularly fast or dramatically, unless you think lots of homeowners are going to just suddenly sell their houses to developers to build eight-unit buildings on them. You'd have one or two eight-unit buildings every few blocks. That wouldn't change a thing in most of the neighborhoods you're talking about, including mine (Tenleytown).[/quote]

I live in this area as well. My question would be this. When this scheme gets approved where I could literally knock my single family house down and build a multi family house in its stead, why would I not immediately sell to a developer? I would turn my modest investment into a windfall overnight. I could then re enter the market in the same area at a higher price point and still have made serious wealth. How would this not drive values up on Single Family Homes. And Why would I not sell my SFH to a developer instead of a private family?[/quote]

Because moving sucks? Because you like your house? Because if everyone starts doing this in the numbers you’re suggesting, that would inflate prices at the level above yours and keep you from moving to a nicer house anyway? Even in fast-gentrifying neighborhoods, a lot of people who could sell their houses for enormous profits don’t. (And developers don’t pay a huge premium, anyway, because they have to then put money into redevelopment — they tend to pay cash, which speeds transactions, and they don’t care about repairs or finishes or whatever, but I’m not sure buying your house now worth $1.2 million for $1.9 million or whatever is going to fit their business model.)[/quote]

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