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Old 05-05-2016, 09:35 PM
 
Location: Boston, MA
8,726 posts, read 7,679,658 times
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Quote:
Originally Posted by mhays25 View Post
I have no idea what you're trying to say, or what's behind your opinion.
Try economics. Easy credit still fuels housing.
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Old 05-05-2016, 10:22 PM
 
4,485 posts, read 2,668,709 times
Reputation: 4090
You must have more that that! Reality is more nuanced. For example:

1. Credit is substantially tighter than it was in 2008.

2. Flipping isn't a large factor today. Houses are purchased to be homes, not investments.

3. Supply is low, with no change anytime soon. (in many cities)

4. Development costs have risen substantially. (some more than others)

5. Housing inventory hasn't grown very quickly relative to population growth in many of the high-priced markets.

6. With higher rents, many people want to buy if they can afford it.
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Old 05-06-2016, 05:37 AM
 
22,769 posts, read 26,212,348 times
Reputation: 14558
California's housing problem is driven by the factors you name, but also by the lack of new housing units. That's California's biggest driver of high costs.

In cities like Atlanta where there's very little restriction on new construction, housing is cheap.

In other cities -- mainly in the west, but potentially anywhere -- you have the NIMBY factor. Existing homeowners are able to band together to prevent new homes from being built -- because it "ruins the ambience," or for nebulous "environmental" reasons. The end result is that their home prices skyrocket.

Furthermore, even in areas where you can build, there's a reluctance on the part of governments to invest in the transportation infrastructure that's necessary in a modern American city. So even cities like Austin, TX, or Charleston, SC, even if you do build a development on the outskirts of town, it's almost no-man's land because nobody wants to sit in traffic 3 or 4 hours a day.
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Old 05-07-2016, 05:00 PM
 
Location: Tennessee
23,579 posts, read 17,561,360 times
Reputation: 27660
Definitely Nashville. A lot of cool things, but no way should it be commanding Boston level prices in core neighborhoods.
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Old 05-07-2016, 07:09 PM
 
6,418 posts, read 10,862,888 times
Reputation: 6687
Quote:
Originally Posted by Serious Conversation View Post
Definitely Nashville. A lot of cool things, but no way should it be commanding Boston level prices in core neighborhoods.
Supply and demand. Nashville got a late start to the urban living trend, and so it is playing catch-up. Nashville does not have the inventory of *suitable* urban units (single or multi-family) that a city its size should have. If Nashville had Boston's inventory, I doubt the prices would be as high.
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Old 05-07-2016, 07:54 PM
 
Location: Tempe, AZ
4,552 posts, read 3,640,935 times
Reputation: 3625
Quote:
Originally Posted by tijlover View Post
Limited space, oh come on!!! If you want to see what a city can do with limited space, go look at Manhattan!

San Francisco could easily handle a million or more people!

It's not the space issue with San Francisco, it's the Nimby's!

The "Kings" and "Queens" of the hills in San Francisco all but determine what can or can't be built there, and there better not be any blockage to their views of Alcatraz or Angel Island!

A high rise or 2 near Fisherman's Wharf! Dream on! Ain't never gonna happen!
California's drought problem and current water rationing would say otherwise.
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Old 05-07-2016, 10:14 PM
 
4,485 posts, read 2,668,709 times
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No they don't.

Residents are a minor factor in water usage. It's mostly agriculture.

Also, even on the residential side much of the use is yards, pools, etc. Adding residents to SF wouldn't probably subtract some yards.
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Old 05-09-2016, 01:33 AM
 
Location: Tempe, AZ
4,552 posts, read 3,640,935 times
Reputation: 3625
Quote:
Originally Posted by mhays25 View Post
No they don't.

Residents are a minor factor in water usage. It's mostly agriculture.

Also, even on the residential side much of the use is yards, pools, etc. Adding residents to SF wouldn't probably subtract some yards.
Yes but the whole state is in it together. Adding a million more people won't make water any easier, especially in some places of California that are already going through water rationing. It's not like these are two completely different stories, they all use the same sources because they are in the same state so what agriculture does with their water will affect the residents. And I'm sure a lot of Bay Area residents share water sources with Los Angeles and San Diego, California is one of the most populated states in the nation, with a dry climate, and I don't need to tell you what problems that can bring. California really does not need a million more people especially with the traffic problems, the housing stock problems (especially in the Bay), and other things they have going on.

The Bay cannot afford a million more people unless they start importing water OR they start desalinating, both of which are costly. Unless California decides to do even more water rationing, which would be the least ideal situation. I doubt they will kick out all those vineyards and other agriculture because they are big money makers for the state. And politicians are about money.
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