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by barry-cotter
2561 days ago
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Can you imagine how much more valuable property in Queens would be if it was zoned so you could build at Manhattan densities? You can create value just by increasing density, by making building more housing legal where it isn’t. In the very long run this may not be an obvious win for all property owners, as a group. But they’re not a group, and if you can be one of the first people to build a lot of housing in a supply constrained market you’ll make a lot of money. If building more housing in the Bay Area was legal there’d be more housing. If they built enough housing prices would even fall eventually. |
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