Zach WeinersmithStupid econ question:
So it looks like a lot of remaining inflation is rent. In that case, wouldn't you want to lower rates to increase home-building and home-ownership in order to reduce rent pricing?
Propriety@ZachWeinersmith Let me weep in your general vicinity about the state of zoning in areas where rents are high. :(
A lot of cities seem to be taking the "discourage people from moving here" tact rather than the "build more housing" tact and it makes me very frustrated! Unfortunately, because a lot of people's wealth is tied up in the value of their homes, they have an incentive to discourage new home construction.
@proprietous But if we get ENOUGH zoning restrictions maybe can can justify a Mars base!
@ZachWeinersmith breathable air now requires a variance that must be granted by City Council after a community design review scheduled with the neighborhood Registered Community Organization (RCO), which is required for Zoning Board of Approvals (ZBA) review, which must happen after a review by the historic commission and the art commission.
Also if the parcel in question hasn't been updated in the city's land records database your review will be rejected. There's an 18 month update backlog.
Erwan@proprietous @ZachWeinersmith as a homeowner it's a mistake to believe you benefit from your house value rising. Because the whole housing market rises too, if you sell your house you need to buy another one at the same inflated price. The only people benefiting are investors (landlords) and older people who move to a smaller, cheaper house.