I’m sure there are many factors, but constructive zoning plus rising population (ie rising demand) is itself sufficient to explain not only rising prices, but even accelerating price increases (since the demand curve isn’t linear).
I’m sure there are many factors, but constructive zoning plus rising population (ie rising demand) is itself sufficient to explain not only rising prices, but even accelerating price increases (since the demand curve isn’t linear).
BearOfaTime@lemm.ee 3 months ago
That’s only one element, and it’s not everywhere.
In my city, it’s the opposite. They’re pushing for more home construction and less commercial.
wintermute_oregon@lemm.ee 3 months ago
Zoning issues is typical of blue states. California. Oregon has have heavy restrictions for legit reasons.
People don’t realize restrictions make sense. You can’t cram 50k people into an area without the sewage, water, roads, etc. there is a balance.
At one of my houses we have a restriction that each house must have 1 acre. It seems crazy till you learn most of that is an easement for electric and drainage. So while I have an acre. Most of it’s not useable. It’s just grass.
jimbolauski@lemm.ee 3 months ago
The other problem areas have with rapidly growing the population is all the infrastructure that has to grow with it. My area has added three schools in the last 5 years and are near capacity, tripled water and sewer capacity (some future proofing), are constantly widening roads. They’ve started slow rolling rezoning so they can catch up which has caused home prices to jump 10% more compared to the surrounding areas.