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I don’t feel like watching. Why can’t they be built?
Zoning and racism
Ironically, many of the folks now demanding affordable high-density urban housing are the same that called the projects a form of de-facto segregation 50 years ago.
_________________ "The fatal flaw of all revolutionaries is that they know how to tear things down but don't have a f**king clue about how to build anything."
Joined: Tue September 24, 2013 5:56 pm Posts: 47166 Location: In the oatmeal aisle wearing a Shellac shirt
Here's the real problem with high-density housing: You don't make any money building it, so no one wants to build it. Unless it's government subsidized, in which case, see Bi_3's response right above mine.
Joined: Thu January 24, 2013 4:32 am Posts: 20873 Location: Surrounded by Wokes. Please send help.
tragabigzanda wrote:
Here's the real problem with high-density housing: You don't make any money building it, so no one wants to build it. Unless it's government subsidized, in which case, see Bi_3's response right above mine.
Ok … grandma finally moves into a nursing home and the family sells her house. It’s a decades old rambler. A tear down. It sells for a ton of money because it’s in a desirable neighborhood with very little building space available. The buyer can make money one of two ways:
1) Build the largest house possible. Like 5,000+ sqft and get it as close to the lot lines as possible.
2) You don’t think they can make as much money by building three 1700 sqft 3-bedroom townhomes?
Joined: Tue September 24, 2013 5:56 pm Posts: 47166 Location: In the oatmeal aisle wearing a Shellac shirt
Bammer wrote:
tragabigzanda wrote:
Here's the real problem with high-density housing: You don't make any money building it, so no one wants to build it. Unless it's government subsidized, in which case, see Bi_3's response right above mine.
Ok … grandma finally moves into a nursing home and the family sells her house. It’s a decades old rambler. A tear down. It sells for a ton of money because it’s in a desirable neighborhood with very little building space available. The buyer can make money one of two ways:
1) Build the largest house possible. Like 5,000+ sqft and get it as close to the lot lines as possible.
2) You don’t think they can make as much money by building three 1700 sqft 3-bedroom townhomes?
3x HVAC 3x hot water heaters 3x kitchen appliances 3x W/D 3x countertops 3x bathroom fixtures 3x P&E costs
All paid for by interest-saddled construction loans.
Unencumbered square footage is the value add, from the developer’s perspective
Last edited by tragabigzanda on Mon January 29, 2024 2:42 pm, edited 2 times in total.
It's supply yes, but also demand. It would be ridiculous to deny that allowing millions of people across the southern border in the last few years hasn't impacted housing. Over the last four years alone the population equivalent of of Massachusetts has crossed the southern border, but we have not built a Massachusetts' worthy of housing to support them.
Building the wall would dramatically reduce, but not eliminate, this piece of the problem. The wall would impact, but not eliminate, Fentanyl supplies as well which contributes to housing insecurity everywhere.
_________________ "The fatal flaw of all revolutionaries is that they know how to tear things down but don't have a f**king clue about how to build anything."
Joined: Thu January 24, 2013 4:32 am Posts: 20873 Location: Surrounded by Wokes. Please send help.
tragabigzanda wrote:
Bammer wrote:
tragabigzanda wrote:
Here's the real problem with high-density housing: You don't make any money building it, so no one wants to build it. Unless it's government subsidized, in which case, see Bi_3's response right above mine.
Ok … grandma finally moves into a nursing home and the family sells her house. It’s a decades old rambler. A tear down. It sells for a ton of money because it’s in a desirable neighborhood with very little building space available. The buyer can make money one of two ways:
1) Build the largest house possible. Like 5,000+ sqft and get it as close to the lot lines as possible.
2) You don’t think they can make as much money by building three 1700 sqft 3-bedroom townhomes?
3x HVAC 3x hot water heaters 3x kitchen appliances 3x W/D 3x countertops 3x bathroom fixtures 3x P&E costs
All paid for by interest-saddled construction loans.
Encumbered square footage is the value add, from the developer’s perspective
Good point. I’mma ask a developer about this. Part of me thinks ok the house would sell for like $3.5m but could each of the townhomes sell for $1.5m and how does the profit look on that.
Joined: Thu January 24, 2013 4:32 am Posts: 20873 Location: Surrounded by Wokes. Please send help.
Bi_3 wrote:
It's supply yes, but also demand. It would be ridiculous to deny that allowing millions of people across the southern border in the last few years hasn't impacted housing. Over the last four years alone the population equivalent of of Massachusetts has crossed the southern border, but we have not built a Massachusetts' worthy of housing to support them.
Building the wall would dramatically reduce, but not eliminate, this piece of the problem. The wall would impact, but not eliminate, Fentanyl supplies as well which contributes to housing insecurity everywhere.
I’m curious how many of them are making their way to Seattle. I have not heard this discussed locally when it comes to supply/demand for housing here.
Joined: Tue September 24, 2013 5:56 pm Posts: 47166 Location: In the oatmeal aisle wearing a Shellac shirt
Bammer wrote:
tragabigzanda wrote:
Bammer wrote:
tragabigzanda wrote:
Here's the real problem with high-density housing: You don't make any money building it, so no one wants to build it. Unless it's government subsidized, in which case, see Bi_3's response right above mine.
Ok … grandma finally moves into a nursing home and the family sells her house. It’s a decades old rambler. A tear down. It sells for a ton of money because it’s in a desirable neighborhood with very little building space available. The buyer can make money one of two ways:
1) Build the largest house possible. Like 5,000+ sqft and get it as close to the lot lines as possible.
2) You don’t think they can make as much money by building three 1700 sqft 3-bedroom townhomes?
3x HVAC 3x hot water heaters 3x kitchen appliances 3x W/D 3x countertops 3x bathroom fixtures 3x P&E costs
All paid for by interest-saddled construction loans.
Encumbered square footage is the value add, from the developer’s perspective
Good point. I’mma ask a developer about this. Part of me thinks ok the house would sell for like $3.5m but could each of the townhomes sell for $1.5m and how does the profit look on that.
Anything else happen in Minneapolis in 2020 that may have affected housing prices?
_________________ "The fatal flaw of all revolutionaries is that they know how to tear things down but don't have a f**king clue about how to build anything."
Here's the real problem with high-density housing: You don't make any money building it, so no one wants to build it. Unless it's government subsidized, in which case, see Bi_3's response right above mine.
Ok … grandma finally moves into a nursing home and the family sells her house. It’s a decades old rambler. A tear down. It sells for a ton of money because it’s in a desirable neighborhood with very little building space available. The buyer can make money one of two ways:
1) Build the largest house possible. Like 5,000+ sqft and get it as close to the lot lines as possible.
2) You don’t think they can make as much money by building three 1700 sqft 3-bedroom townhomes?
3x HVAC 3x hot water heaters 3x kitchen appliances 3x W/D 3x countertops 3x bathroom fixtures 3x P&E costs
All paid for by interest-saddled construction loans.
Encumbered square footage is the value add, from the developer’s perspective
Good point. I’mma ask a developer about this. Part of me thinks ok the house would sell for like $3.5m but could each of the townhomes sell for $1.5m and how does the profit look on that.
If they get the variance to split the lot into 3 smaller ones, you’d probably have upset neighbors with adding 3 more families in a spot that only had one
_________________ St. Louis (1998, 2000, 2003, 2004, 2010, 2022)
Anything else happen in Minneapolis in 2020 that may have affected housing prices?
What are you suggesting here ? George Floyd caused rents to decrease?
Housing prices haven't declined in mpls. Sales declined but prices have generally not declined at all. By all accounts rents have not declined either. Point is, that graph can go fuck itself too
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