Submitted by LawyersGunsandMoneys t3_ztjx0c in Connecticut
LawyersGunsandMoneys OP t1_j1etf9s wrote
Reply to comment by Luis__FIGO in Opinion: CT must act on Fairfield County education, housing issues by LawyersGunsandMoneys
I want all of the above, and more of it!
More housing units produced will result in overall cheaper housing. I don’t believe that there is any commodity where an increase in supply will cause prices to rise. If we increase the number of housing units that developers are allowed to build, the price per housing unit will go down.
Also my apologies, I have moved to Fairfield county since the post you reference.
Frequent_Jelly_4138 t1_j1ezlzx wrote
They do it because it’s ok to take a loss for a few months to hold out for higher rent on a longer term lease. Vacancy of a high value unit looks better on paper than a lower than market lease.
LawyersGunsandMoneys OP t1_j1ezz2c wrote
Yeah, but that’s holding out for a higher rent, it’s not just keeping a unit vacant to keep it vacant. Presumably if someone paid the asking price they would rent it to them.
Wouldn’t an environment with more competitors (i.e. more housing units available to rent) make this practice less economically feasible?
Frequent_Jelly_4138 t1_j1f1r4h wrote
Also we don’t want cheaper housing, cheaper housing is a bad thing.
LawyersGunsandMoneys OP t1_j1f24af wrote
If housing were cheaper wouldn’t that allow people to enjoy a higher standard of living? If I were paying less on my mortgage (or rent), I could spend that money on other things. I would be more likely to go on vacation, start a family, etc. it seems like a very desirable goal to me. I don’t know what the downside is.
Frequent_Jelly_4138 t1_j1f2h3a wrote
You shouldn’t be able to have a higher standard of living if you can’t afford it. I want a house in the hamptons personally, but I can’t afford it. I’m not calling for them to get cheaper.
LawyersGunsandMoneys OP t1_j1f2qr8 wrote
So you’re saying that even if we have the ability to make housing less expensive for the average person, we should not try to do that?
Frequent_Jelly_4138 t1_j1f33uu wrote
Exactly what I’m saying. When did we become so entitled that we demand nice things for cheap? If you spent half the time you are fighting for affordable housing actually working, maybe you could afford to live in a nice place. This is America, you have to pay up for nice things. Stop complaining
LawyersGunsandMoneys OP t1_j1f3xxc wrote
Large portions of our economy are predicated on building nice things for cheap. We love Americans who make nice things cheap. Henry Ford is widely celebrated for inventing a way to build an item formerly reserved for only the rich (cars) and making it much cheaper and accessible to more people.
Most, if not all, consumer goods are much cheaper now relative to average salaries than than they were when they were introduced, because companies innovated to make nice things cheap for everyday people.
Housing costs have risen though, because the pace of construction has not kept up with demand.
Why shouldn’t we let entrepreneurs do what they do best, and make nice housing cheaper? We just need to pare back some of the excessive regulations and let Americans do what they do best.
I love America, what’s more American than letting Americans get out there and build shit?
Frequent_Jelly_4138 t1_j1fb0u0 wrote
I am literally one of those Americans building shit and explaining to you why it isn’t good for our home state yet you’re not listening bc it goes against your opinions.
Luis__FIGO t1_j1etyt6 wrote
Price per housing unit is a bs stat. It's not making apartments more affordable, it's literally decreasing property values. That doesn't help anyone.
Frequent_Jelly_4138 t1_j1ezqp6 wrote
Affordable housing is a fallacy. The only reason it is ever built is for the tax credits, then once ten years has passed it goes to market rate.
LawyersGunsandMoneys OP t1_j1f0t1r wrote
Which is why we should also allow the construction of more market-rate housing!
Luis__FIGO t1_j1f3p2x wrote
Making appartments that already exist affordable is not the same as building affordable housing way to miss the point.
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