Hacker News new | ask | show | jobs
by FireBeyond 751 days ago
In my city they looked at that. My city is not one of the most expensive in the country (upper middle?), but it has been generally near the top of the "biggest YoY increases in home values" over the last decade of so.

All sorts of feasibility studies. Options.

And then out came the NIMBYs. "My grandkids play in the street and I'm scared they won't be able to anymore", "there's going to be cars parked everywhere on the street and we won't be able to find parking" (uh, you have driveways and garages, no?)

"What's this going to do to our property values?" This was the kicker. "Well the most conservative of our studies showed that it looks like we'd go from 11% YoY value increases to 8-9%."

Wow. You would have thought the city was pouring water in everyone's gas tanks, or assaulting their grandmothers.

"HELL NO. I have a right to double digit property value increases!" Even when the lower increases would still be in the top 20% of property markets in the country (and being clear, still an 8%+ ROI), no way in hell were any of those proposals going to pass.