Dahobbs
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Viewing Topic: 2025 Citrus Bowl - Texas vs. Michigan - 2:00pm on ABC
Everything posted by Dahobbs
- Texas vs. Arkansas - 2:30pm on ABC
- Texas vs. Arkansas - 2:30pm on ABC
- Texas vs. Arkansas - 2:30pm on ABC
- Texas vs. Arkansas - 2:30pm on ABC
- Texas vs. Arkansas - 2:30pm on ABC
- Texas vs. Arkansas - 2:30pm on ABC
- Texas vs. Arkansas - 2:30pm on ABC
- Texas vs. Arkansas - 2:30pm on ABC
- Texas vs. Arkansas - 2:30pm on ABC
- Texas vs. Arkansas - 2:30pm on ABC
- Texas vs. Arkansas - 2:30pm on ABC
- Texas vs. Arkansas - 2:30pm on ABC
- Texas vs. Arkansas - 2:30pm on ABC
- Texas vs. Arkansas - 2:30pm on ABC
- Texas vs. Arkansas - 2:30pm on ABC
- Texas vs. Arkansas - 2:30pm on ABC
- Texas vs. Arkansas - 2:30pm on ABC
- Texas vs. Arkansas - 2:30pm on ABC
- Texas vs. Arkansas - 2:30pm on ABC
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NIMBYism
I'm not sure you're understanding my point (but maybe you are). You can't just tell everyone "get a better job." If everyone has a better job, then prices just get higher. If you go from a median household income of $60,000 to a median of $1,000,000, housing prices will go up by a similar percentage absent an increase in supply.
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NIMBYism
The premise that inserting more money into the system will make houses affordable is false. If you have the same housing supply and give everyone an extra $100,000, you're just going to increase demand and raise housing prices to offset the new money. In a market-based system, you have to increase supply to drive down prices. That's how market economics work. Period.
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NIMBYism
Demand for housing generally is based upon population. Building more houses is how you address the demand. There may be a local increase in demand as new housing gets completed, but it isn't going to completely offset the negative pressure on prices from increased supply. If those first-time homebuyers or renters didn't live in Beverly Hills, they'd have to live somewhere else. Them leaving wherever they currently area, frees up that supply for someone else. It absolutely has a trickle-down effect. Again, I don't think this guy is trying to solve the housing crisis. And I don't think that is his job. He is trying to make money. But that doesn't mean that him making money will not also have a negative effect on housing prices. I agree that other actions could have a more substantial and direct effect on housing prices. And I agree that the state could and should do other things to incentivize or create more affordable housing. But yes, building higher density housing in more expensive areas can cause negative pricing pressure in surrounding areas.
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NIMBYism
It unquestionably will by freeing up supply. Obviously, it doesn't move the needle much by itself. But it will help. Again, the premise isn't that this one building solves anything. But increasing supply through denser housing is most definitely a very effective solution to lowering housing prices.
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NIMBYism
Sure, that is the motivation. This guy isn't striving to solve affordability, but that is really irrelevant. Cheaper housing in Beverly Hills means that individuals that can't afford current Beverly Hills prices will move there, freeing up space in other areas. Increasing supply decreases prices. That's just how it works. His one building obviously isn't a solution for the housing crisis. But it is part of the solution of increasing density and total supply of housing.
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NIMBYism
I'm sure the units in the building will be more affordable than general Beverly Hills' prices (average home price of $3.5 million). And making more units there can have spillover effects to other areas.