[ajxs]

I'm a little speechless that so many people seem to think that this decision will empower the owners of these lots more so than investors. It takes a significant capital investment to convert a single dwelling into a duplex. At the very least for most people this will require incurring a significant mortgage, more likely than not just being outright prohibitively expensive. It's not like every piece of land will become twice as valuable in practice, that will take quite some time for the demand to catch up to the supply. In the meantime, the land is slowly purchased by developers and investors to build multi-tenant dwellings.

[sjg007]

Banks will offer special financing, it will be straightforward once a model is proved. You can get remodeling loans. You can build a home with 3% down. You can buy into a neighborhood (crappy teardown where the property is basically the land value). This is not a difficult thing.