itsonlyastrongbuzz t1_j8oqy1c wrote
You’re operating with two fundamental flaws.
First is the the fundamental flaw of thinking that “market rate” and “luxury” are synonymous.
What’s marketed is luxury is a means of easing the sticker shock of rent, and is only luxury when compared to the existing housing stock which was built 30-40 years ago.
These are “luxury” in Boston in the sense that a new Honda Civic would be a “luxury” car in Cuba, where the average car on the road was imported before the moon landing.
The more supply that hits the market, the cheaper rent will be.
Second, more importantly, is that the increase in price is always gentrification. You cannot ignore external market forces that depressed the price of real estate in many communities, and cry “gentrification” when the market corrects and those once desirable neighborhoods are desirable again.
Some neighborhoods that are full of tech bros were once full of Irish immigrants. Some African American communities were once Jewish. Fuck, in Boston most land used to be water.
Neighborhoods change, that’s what they do. No neighborhood has remained static in this city, ever.
3720-To-One t1_j8orust wrote
“Some neighborhoods that are full of tech bros were once full of Irish immigrants.”
It’s okay to say Southie. Lol
“Neighborhoods change, that’s what they do. No neighborhood has remained static in this city, ever.”
Try getting the goddamn NIMBYs to understand this.
Maxpowr9 t1_j8p1udb wrote
Even in the burbs, I can't stand the "I grew up here so I matter more". Nah, you're just one vote guy.
3720-To-One t1_j8p47ef wrote
I’ve had arguments on here and on the Massachusetts sub with suburban NIMBYs who literally think that when a person buys property that there is a “reasonable expectation” that things won’t ever radically change.
Yeah, no. There isn’t. You own your property, and nobody else’s.
Maxpowr9 t1_j8pf7ho wrote
And even then, there is a whole bunch of asterisks attached to owning property.
BombayDreamz t1_j8pzvwx wrote
So many people will look down at anti-immigration conservatives and then say that an ethnic group or community basically "owns" a neighborhood through some amorphous moral right. At the end of the day, free movement of people had pros and cons, but it's the same basic principle at stake.
SuckMyAssmar t1_j8otscb wrote
Ok, you are kind of all over. Luxury apartments are priced at market rates. You are also looking at this with an economist’s view, talking about the market CoRrEcTiNg.
Do you have any responses to the questions I posed above?
IntelligentCicada363 t1_j8pgr2f wrote
Have you ever been inside a “luxury apartment”? I assure you they are not very nice.
And the poster you are replying to is correct. City housing values were massively depressed by social, cultural, and economic forces in the 1950s-1990s.
Cities became desirable to live in again and prices went back up, but they kept going up because the population increased but no homes were built in the interim.
SuckMyAssmar t1_j8prhjs wrote
Luxury apartments are very new money. I know.
Middle-Example6618 t1_j8sqnsu wrote
>Do you have any responses to the questions I posed above?
Those were responses.
The problem is.... this isn't a Burger King.... and so you didn't get it your way.
Viewing a single comment thread. View all comments