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If you have a problem with "white collar," you must be a Democrat. Just like many blacks don't like blacks who can afford "white collar" houses! Those blacks are often deemed to be "too white" by fellow, less successful, blacks.
I believe this because columbusboy8 is widely known as an authority on what Blacks think.
The new housing makes overall housing more affordable by adding to the supply and decreasing demand on the existing housing.
Only if the new housing is not replacing the older housing. Tearing down a duplex with two $1200/mo 2-bedroom units and replacing them with 8 $2500/mo 1-bedroom units does nothing to lowing housing costs.
You need to replace a 10 unit 3-story apartment buiding with $2000/mo rents with a 20-story, 200 unit buiding. That keeps the low-cost housing intact, while increasing the stock of new housing.
Or, put 10-story apartment buidlings on top of shopping malls, near transit centers.
No, the reason they are tearing down the low-cost housing is because trillions of dollars of American real estate was purchased by these billionaire and sovereign wealth funds after the 2008 debacle (and now the small, independent commercial properties, as well) and they want to maximize their return. They have enough political clout and campaign donation money to make sure the planning departments go along with their greedy plans.
Profit. A high end house costs only a little more to build but sells for a lot more.
This reminds me of the last house my grandma lived in. It was a cute little one-bedroom house built in the early 50s. It seemed to have about the same level of quality as my aunt and uncle's 3 bedroom ranch that was built in 1953.
I think there is an underserved segment of the new house market today. It seems that, if you want to buy/build a new house today, your choices are to buy something over 2000 s.f., buy a manufactured home (a.k.a. house trailer), or buy one of those "tiny houses."
Because "white collar" earns enough to pay enough to make it all work
Exactly, the new white collar buyers are typically government (local/state/fed) “servants” with family earnings in the six figures. This pandemic has had little affect on them in terms of income or access to credit.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Originally Posted by TimAZ
Exactly, the new white collar buyers are typically government (local/state/fed) “servants” with family earnings in the six figures. This pandemic has had little affect on them in terms of income or access to credit.
That's true, and also, the pandemic has more people wanting to get out of the crowded apartments and into a house, or at least a townhome. This means even less motivation for builders to consider lower income housing. The good news for the renter is that big city apartment rent will start to come down, with so many future vacancies as people leave for the suburbs (already happening in San Francisco).
...the new white collar buyers are typically government (local/state/fed) “servants”
with family earnings in the six figures.
While I'm sure these people ALSO exist within the group... it's hardly limited to public employees.
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