Urban housing "crisis"

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Saturday, April 2. 2016

Can New York Fix Its Housing Crisis? The New York City Council passed a number of measures meant to ease the city's housing crisis. Will they work?

Of course not. They never do. Every issue has to be called a crisis these days, to the point that the word has no impact.

It is a fact that housing costs in desirable urban areas are high, and you do not get much for your money. So while market forces are at work, market forces are also contending with all sorts of government interventions which distort housing markets and have unintended consequences: zoning, subsidized housing which is often termed "affordable housing," rent control, multi-year hurdles for new construction which only people like Trump can overcome, etc.

One thing I know for certain is that, if you want "affordable housing" in a fancy neighborhood of Manhattan, you had better have a friend in the Mayor's office. You get government friends with money.

Posted by The News Junkie in Hot News & Misc. Short Subjects at 15:45 | Comments (10) | Trackbacks (0)

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This is known as Mitchell's Law of Equalization of Misery".

Is it a nice place? Good weather, nice scenery, good recreational opportunities, great restaurants and amenities? That's San Diego, which is hideously expensive, because people who like that environment will move there.

In North Dakota, it's cold and miserable, nothing around but fields full of cows and corn, no museums or much in the way of culture that you don't make for yourself. These places are cheap.

People who want to save money will move to cheap places; people who want nice places will pay for it. When prices get too high, then at some point people will move out - just as people are beginning to move out of California and go to Reno or Las Vegas or Texas.

#1 Ken Mitchell on 2016-04-02 18:27 (Reply)

All those laws and regulations and ordinances are opportunities for graft.

#2 Sam L. on 2016-04-02 19:08 (Reply)

unlike the 'Green Acres' saga of Oliver Wendell and Lisa Douglas .

#3 la on 2016-04-02 19:45 (Reply)

Explain this: Already high priced Monterey, CA now looks and feels like Tijuana. Prices have not come down!

#4 anotherone on 2016-04-02 21:28 (Reply)

A lot of it is grandfathered over time. Families bought years ago and their culture is family first so the family keeps the home after the father/grandfather dies. Some of it is money brought to the U.S. Not so much those of Mexican descent but certainly those of Asian descent. Also if you were to go to a home of a Hispanic family you would find mom and dad, and three adult children, an uncle or two and a daughter with two kids and half of the adults on welfare (not trying to be insulting just factually accurate). Everyone contributes what they can, mom or dad collects the money and pays the bills.

#4.1 GoneWithTheWind on 2016-04-03 00:15 (Reply)

"Also if you were to go to a home of a Hispanic family you would find mom and dad, and three adult children, an uncle or two and a daughter with two kids and half of the adults on welfare (not trying to be insulting just factually accurate)."

not trying to be insulting, but holy shi'ite, did the frito bandito tell you that?

Also if you were to go to a home of a Southern family you would find, collectively, five or six teeth. (not trying to be insulting just factually accurate).

#4.1.1 Donny "The Bear Jew" Donowitz on 2016-04-03 11:29 (Reply)

I actually admire the cultural devotion to family. I think that the parents enjoy the extended family and instill this tradition into their children. The grandparents often are the biggest beneficiaries of this tradition with the grandchildren perhaps being the second major beneficiary. You have to see it and be close to it to really appreciate it. Multi-generational families living under the same roof can often seem chaotic but are typically beneficial to all of them.

#4.1.1.1 GoneWithTheWind on 2016-04-03 12:10 (Reply)

I think so too

#4.1.1.1.1 Bird Dog on 2016-04-03 15:09 (Reply)

"devotion to family". that's code for "mammal". you guys need to expand your expectations.

#4.1.1.1.1.1 Donny "The Bear Jew" Donowitz on 2016-04-03 16:26 (Reply)

I remember a $15/mon walkup shotgun apartment in the lower east side. Apart from the thieves, addicts, the smell of urine at the entrance and the half dozen locks on the door, it wasn't bad ;)

#5 chuck on 2016-04-03 16:11 (Reply)

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Saturday, April 2. 2016

Urban housing "crisis"