Quote:
Originally Posted by Fuzz
Well under $400k is more affordable(and the "upgrade effect" will come into play as discussed by others). Think of it this way, if the only option in these neighbourhoods is replacement built SFH for $1 million, that doesn't increase density, or reduce cost. If instead, you build a duplex, or split the lot for 2 $750k that has doubled density. If instead of that you build 4 units for $400k each(as shown before) you have now quadrupled density, and the total cost is lower than than doubling it.
But as you observed, there aren't many of these available, so the price is set by demand. With new zoning, these become easier to build and market pricing may even be cheaper as supply increases.
I've typed this all out, and now I wonder that it seems so obvious that maybe I'm missing something you are saying? Because otherwise I can't figure out what you are missing. |
I don't know what we're even discussing. I just think that to actually get affordable options that will help the people who were protesting outside city hall last week, you basically need apartments. I don't think that's a crazy statement.