Reply to Should current homeowners wish for home values to decline?

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Reply to "Should current homeowners wish for home values to decline?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It seems weird to expect people who own an asset to hope the value will go down so that someone else can afford to buy it.  If housing values drop, some people will be underwater, lose all equity and may be forced to sell. This would benefit you nicely but that other family just lost their home.

It’s similar to the whining as to why boomers aren’t updating their homes AND pricing them as if they aren’t updated, so new buyers get a better deal and hassle free move in ready with HGTV design.

The housing crisis is about basic high density housing and fast, reliable public transit not being available leading people into homelessness or sitting in their car 3-4 hours a day commuting. The housing crisis is NOT you not being able to afford a nice SFH near walkable restaurants, great school district and short commute.[/quote]

There is no “housing crisis” in the vast majority of areas in the US. This is largely a propaganda campaign by developers to justify eliminating local control over zoning.[/quote]

Zoning, zoning.   This isn't some magic panacea for many reasons.  Increasing density isn't going to make single family homes more affordable.  In some cases it will make them even less affordable if located in the areas where density is increasing all around but cannot be built in their community due to terrain issues, infrastructure issues, etc.  Also when people complain about unaffordable housing and prices they complain about SFH prices primarily, because this is the type of housing majority seems to want to buy.  People who love urban living have a lot of condos and TH options to choose which are usually already more abundant.  There is no shortage of condos in DC metro.  There is no shortage of suburban sprawl homes either.  Houses that are expensive and desirable are located in central areas near amenities, transit, jobs, etc, have low crime and nice surroundings.  There will always be shortage of this unless population dramatically declines because it's what everyone wants.  You cannot make more of it short of building new towns with all these amenities, jobs, transit, etc.   You cannot build more quaint residential areas with attractive homes, mature foliage by re-zoning and increasing density, because people will still pay premium for these SFHs, and if they become even more rare due to lots getting zoned for small apartment buildings then their prices will rise even more.  [/quote]

So your solution is do nothing?[/quote]

The solution is let actual residents of the communities decide for themselves what they want to do for zoning. They are the people most directly impacted by development decisions. Don’t let large companies and private equity funds lobby the state and federal to override local zoning rules for communities that these (elite) people who profit from destroying neighborhoods don’t event live in. [/quote]

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