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Reply to "Cities with No Children"
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[quote=Anonymous][quote=Anonymous] Nobody is going to build there if there is not enough demand. To build in yuppie parts land costs a lot and developers won't built unless it's luxury condos. Same with the suburban developers in expensive burbs. If the lot costs north of 900, no developer is going to build a home under 5000sq.ft or something they cannot flip north of 2 mil. What crazy developer would pay 900 for a lot to build a 2500 sqft. home with inexpensive upgrades?[/quote] Land that is suitable for high rise development costs so much because we limit the parcels where high rises are allowed, and how much can be built on any one parcel. We create the scarcity. Allow more parcels to have high rises, and while those particular parcels will go up in value, the general market for high rise zoned parcels will go DOWN. Which will make the economics of adding full luxury amenities less attractive. [/quote]
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