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This is Why You Can't Afford a House


jgriff

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A direct comparison of Houston with LA, San Francisco, or Manhattan (the NYC borough, not the city in Kansas) is not apples to apples.  LA's been described as 100 suburbs in search of a city, the Bay Area is likewise quite balkanized.  Get into the San Fernando Valley, or off the peninsula and out of Marin, or take the Lincoln Tunnel west or the LIE east from Manhattan and the average prices start to fall, just as they do once you get out into the burbs here.  We've got neighborhoods with high prices (like inside the Loop and west of Main), and it's not because of rent controls or zoning - it's proximity to work places and perceived quality.

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Interesting piece, which I am sure will engender some vigorous huffing and puffing from those who see urban density as the cure.

 

You mean Kotkin saying Kotkin-y things? We're used to it at this point.

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  • 8 months later...
On 2/10/2016 at 11:54 AM, mollusk said:

We've got neighborhoods with high prices (like inside the Loop and west of Main), and it's not because of rent controls or zoning - it's proximity to work places and perceived quality.

 

But where does the perceived quality come from? What exactly is the speculation here? In my opinion it comes down to home ownership versus rentals with the former dictating higher property values.

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