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Full-Text Articles in Social and Behavioral Sciences
Land Costs And New Housing, Michael Lewyn
Land Costs And New Housing, Michael Lewyn
Scholarly Works
Restrictive zoning limits housing supply, which (according to the law of supply and demand) increases housing costs. But some commentators argue that more permissive zoning would actually increase housing costs by increasing land costs. This article points out that if the latter claim was true, land costs would have risen in places that allowed lots of new housing and fallen in more restrictive regions such as San Francisco. In fact, land costs increased in both types of metro areas. More importantly, overall housing costs increased more rapidly in more restrictive metros.
Downtown Condos For The Rich: Not All Bad, Michael Lewyn
Downtown Condos For The Rich: Not All Bad, Michael Lewyn
Scholarly Works
Some new condominiums in urban neighborhoods are too expensive for anyone but the very wealthy. Buyers of these high-cost units include not only wealthy city residents, but also nonresidents who wish to use housing as an investment rather than a residence. Some commentators use this apparent fact as an argument against new market-rate housing generally; they claim that new housing will be purchased by out-of-town investors rather than used by local residents and that those investors will leave housing units empty, rather than renting them out. A related argument is that, even if market-rate condos are purchased by local residents, …