Booming Nashville grew more than 100 people a day!

[Hey_Hey]

Housing costs are yet another sign that Nashville has really jumped tiers of cities and is now dealing with problems that it never dreamed of having to deal with previously. The problem is, there isn't a great solution. Essentially all other large, growing cities have this same issue. Many (most) are much worse than Nashville. Places like San Francisco, Boston, Seattle, and NYC have been trying to fix this for decades without much success. Austin and Denver have been dealing with it in the last few years as well without much success either. Numerous other cities are in the same boat.

Nashville is creating tons of high income jobs right now. Whether it is in Tech, healthcare, real estate, or finance, high income jobs are coming. When that happens, vital lower income professions (nurses, teachers, police, etc) lose places to live. We know that Nashville's incomes have been rising, but similar to the country as a whole, the lion's share of those increases are happening at the higher incomes.

IMO, Nashville needs put out the welcome mat for developers. Nashville needs more supply, and we need to convert low density housing in Nashville into higher density. The new construction will likely still be relatively expensive, but it will drive the prices of the existing apartments down. That's perfectly fine. Today's new supply is next year's existing supply and we will see costs stabilize with enough construction.

[mjtinmemphis]

Originally Posted by Hey_Hey

Housing costs are yet another sign that Nashville has really jumped tiers of cities and is now dealing with problems that it never dreamed of having to deal with previously. The problem is, there isn't a great solution. Essentially all other large, growing cities have this same issue. Many (most) are much worse than Nashville. Places like San Francisco, Boston, Seattle, and NYC have been trying to fix this for decades without much success. Austin and Denver have been dealing with it in the last few years as well without much success either. Numerous other cities are in the same boat.

Nashville is creating tons of high income jobs right now. Whether it is in Tech, healthcare, real estate, or finance, high income jobs are coming. When that happens, vital lower income professions (nurses, teachers, police, etc) lose places to live. We know that Nashville's incomes have been rising, but similar to the country as a whole, the lion's share of those increases are happening at the higher incomes.

IMO, Nashville needs put out the welcome mat for developers. Nashville needs more supply, and we need to convert low density housing in Nashville into higher density. The new construction will likely still be relatively expensive, but it will drive the prices of the existing apartments down. That's perfectly fine. Today's new supply is next year's existing supply and we will see costs stabilize with enough construction.

Dont build density without infrastructure upgrades like LRT and fancy intersections (like diverging diamonds) and improving the grid (I don't think that would be possible without destroying the city and doing a rebuild).

Funny thing is teachers with advanced degrees in the cities mentioned along with transit worker, police officers, fire fighters and registered nurses have 6 figure incomes. Especially in larger cities. You can't have a successful city with non livable wages for mentioned professions and a higher minimum wage.

[Drake744]

The number that keeps getting thrown around up here in Seattle is 4,000 people a month so it'll equate to around 130 people a day. Point being, if housing increases are any indication, Nashville needs none of that consistent growth in the future. I'm moving back for that reason.