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dementedturnip26 OP t1_j6n9o6a wrote

In theory this should drive down surrounding home values, right?

In reality, it probably will raise property values on existing homes.

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ktxhopem3276 t1_j6ncylc wrote

If anything it will reduce competition for existing homes. New housing increasing prices of existing housing is a myth perpetuated by the fact that new housing is only built when there is huge housing demand. However due to the overall shortage of housing it’s like pissing in the ocean.

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dementedturnip26 OP t1_j6nn12e wrote

Yeah. That’s constantly the argument I see, that building these lowers prices. However this is just too little to do anything.

You build a thousand homes priced 250k to 350k the maybe it does something

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hypotenoos t1_j6o04t2 wrote

A rising tide lifts all boats, but not necessarily equally.

If there isn’t strong demand for existing homes in West Deer that doesn’t mean there isn’t interest in new construction.

Tap into that demand and you have a better chance of attracting demand for existing homes.

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