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by CydeWeys
955 days ago
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Manhattan got the way it is today precisely because it DIDN'T use to have all of these restrictive rules prohibiting development. Indeed if those rules had been around a century or more ago, it wouldn't be the #1 city in the country. Chicago would be. You've got it precisely backwards. The excessive rules are harmful, period, and are significantly hurting housing affordability. The lack of them is what made this city great back in the day (and it's still coasting on that inertia, though only growing more and more unaffordable over time). The most recent dumb rule that was tacked on recently essentially made it impossible to build new hotels* (see https://therealdeal.com/new-york/2022/12/09/how-special-are-... ). Not a single hotel has been granted permission since that law passed several years back. Now add on top the AirBnb ban and we're making it significantly more expensive to visit NYC, which is hurting our tourism industry. All for completely dumb reasons. Build more hotels, build more housing, let the city thrive. * This law was passed not because it's a good idea, but because of captured interests, namely, the existing hotel operators who didn't want further competition. It's anti-competitive, not "a good law that you need in a dense city" as you are characterizing things. |
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Of course the rules are there to maintain the status quo?
Do you think they don’t know that?
The rules won’t change until long after it’s started to be unsustainable either. That’s normal.
The only people who are going to pre-emptively change the rules to make things better are the folks who are competing to be the next ‘big thing’, not the already big thing.
The already big thing is trying to not lose what they already somehow got. They’re going to be fundamentally conservative unless they’re very risk tolerant, which is rare.
New Jersey is much more friendly zoning and taxation wise than New York, for example.