Reply to We need homes. A lot of homes. Not just affordable, but also middle-income homes.

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Reply to "We need homes. A lot of homes. Not just affordable, but also middle-income homes."

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[quote=Anonymous]^^ Cities are incentivized to have a constant cycle of high income singles, and young couples, pay high taxes one way or the other through property value, and consumption, that then leave before they have children and require services.

This works so long as there is a constant supply of high income singles and to young couples, but isn’t sustainable. The people who survive this, have no reason to vote otherwise, and anyone burned by the rat race is someone else’s problem.

On the market side, the trend towards 1 beds and studios, is a product of bringing the cost per unit down to something the market will bare. This is exaggerated by extra requirements that require offsetting other costs.

This includes subsidized housing. Every unit that is required to be deeply below market rate, is paid for by now above market rate. In other words for every family saved, it is actually at the expense of two or more families.

This becomes even more apparent when cities demand public and subsidized housing have say 3 bedrooms, which in some places will push the cost per a unit above $800K or $900K. Or we’ll above $3,000/month in rent. So while one family gets a steep discount, gets to form a family, where everyone gets their own room, the middle class family either doesn’t form or has to leave.[/quote]

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