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theWora t1_itqmsyz wrote

Reply to comment by IntelligentCicada363 in Cambridge completely eliminated parking minimums yesterday!! by RealBurhanAzeem

The only possible outcome is not a decrease in prices. It may happen temporarily, but within 5 year span, they prices for the same Apts would go up.

Also, if nothing is done to control rent prices, everything will keep going up and we,ll end up with another NYC situation and plus.

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IntelligentCicada363 t1_itqnyje wrote

100 people want to live in a neighborhood but there are 20 homes. The wealth of these people follow a standard bell curve.

Who gets to live in the neighborhood?

The next year the city passes a policy that leads to the creation of 40 more homes.

What happens to the price of homes, again with a standard curve where everyone has a varying max budget

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It is worth noting that there if a regional housing crisis and increased demand for walkable neighborhoods. This example assumes demand is constant. The solution is not to prevent Cambridge from building more housing, but to encourage/force surrounding towns to build more housing.

The population has simply grown and we haven’t built homes to keep up

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