The Homelessness Crisis

[BurtReynolds]

Hey this is good

You people are hopeless

[tragabigzanda]

FUCK ICE

[E.H. Ruddock]

I don’t feel like watching. Why can’t they be built?

[blueviper]

I don’t feel like watching. Why can’t they be built?

Zoning and racism

[Bi_3]

I don’t feel like watching. Why can’t they be built?

Zoning and racism

Ironically, many of the folks now demanding affordable high-density urban housing are the same that called the projects a form of de-facto segregation 50 years ago.

[tragabigzanda]

FUCK ICE

[Bammer]

Here's the real problem with high-density housing: You don't make any money building it, so no one wants to build it. Unless it's government subsidized, in which case, see Bi_3's response right above mine.

Ok … grandma finally moves into a nursing home and the family sells her house. It’s a decades old rambler. A tear down. It sells for a ton of money because it’s in a desirable neighborhood with very little building space available. The buyer can make money one of two ways:

1) Build the largest house possible. Like 5,000+ sqft and get it as close to the lot lines as possible.

2) You don’t think they can make as much money by building three 1700 sqft 3-bedroom townhomes?

[tragabigzanda]

FUCK ICE

[Bi_3]

It's supply yes, but also demand. It would be ridiculous to deny that allowing millions of people across the southern border in the last few years hasn't impacted housing. Over the last four years alone the population equivalent of of Massachusetts has crossed the southern border, but we have not built a Massachusetts' worthy of housing to support them.






Building the wall would dramatically reduce, but not eliminate, this piece of the problem. The wall would impact, but not eliminate, Fentanyl supplies as well which contributes to housing insecurity everywhere.

[Bammer]

Here's the real problem with high-density housing: You don't make any money building it, so no one wants to build it. Unless it's government subsidized, in which case, see Bi_3's response right above mine.

Ok … grandma finally moves into a nursing home and the family sells her house. It’s a decades old rambler. A tear down. It sells for a ton of money because it’s in a desirable neighborhood with very little building space available. The buyer can make money one of two ways:

1) Build the largest house possible. Like 5,000+ sqft and get it as close to the lot lines as possible.

2) You don’t think they can make as much money by building three 1700 sqft 3-bedroom townhomes?

3x HVAC
3x hot water heaters
3x kitchen appliances
3x W/D
3x countertops
3x bathroom fixtures
3x P&E costs

All paid for by interest-saddled construction loans.

Encumbered square footage is the value add, from the developer’s perspective

Good point. I’mma ask a developer about this. Part of me thinks ok the house would sell for like $3.5m but could each of the townhomes sell for $1.5m and how does the profit look on that.

[Bammer]

It's supply yes, but also demand. It would be ridiculous to deny that allowing millions of people across the southern border in the last few years hasn't impacted housing. Over the last four years alone the population equivalent of of Massachusetts has crossed the southern border, but we have not built a Massachusetts' worthy of housing to support them.






Building the wall would dramatically reduce, but not eliminate, this piece of the problem. The wall would impact, but not eliminate, Fentanyl supplies as well which contributes to housing insecurity everywhere.

I’m curious how many of them are making their way to Seattle. I have not heard this discussed locally when it comes to supply/demand for housing here.

[tragabigzanda]

FUCK ICE

[Strat]

Nice highest and best use analysis, boys.

[B]

[Bi_3]

Anything else happen in Minneapolis in 2020 that may have affected housing prices?

[blueviper]

Here's the real problem with high-density housing: You don't make any money building it, so no one wants to build it. Unless it's government subsidized, in which case, see Bi_3's response right above mine.

Ok … grandma finally moves into a nursing home and the family sells her house. It’s a decades old rambler. A tear down. It sells for a ton of money because it’s in a desirable neighborhood with very little building space available. The buyer can make money one of two ways:

1) Build the largest house possible. Like 5,000+ sqft and get it as close to the lot lines as possible.

2) You don’t think they can make as much money by building three 1700 sqft 3-bedroom townhomes?

3x HVAC
3x hot water heaters
3x kitchen appliances
3x W/D
3x countertops
3x bathroom fixtures
3x P&E costs

All paid for by interest-saddled construction loans.

Encumbered square footage is the value add, from the developer’s perspective

Good point. I’mma ask a developer about this. Part of me thinks ok the house would sell for like $3.5m but could each of the townhomes sell for $1.5m and how does the profit look on that.

If they get the variance to split the lot into 3 smaller ones, you’d probably have upset neighbors with adding 3 more families in a spot that only had one

[Bammer]

Setting Bi’s joke about drug overdoses aside, you might notice the inverse relationship between the two graphs.

Also blueviper is a confirmed NIMBY

[blueviper]

I work for a city and someone is trying to split a lot into two and neighbors are emailing the city and mayor complaining.

Also, depending on the scenario, I could be nimbyish

[B]

Setting Bi’s joke about drug overdoses aside, you might notice the inverse relationship between the two graphs.

That's kinda the point.

Anything else happen in Minneapolis in 2020 that may have affected housing prices?

I'm pretty confident that cops murdered Blacks in all of those cities.

[Strat]

Anything else happen in Minneapolis in 2020 that may have affected housing prices?

What are you suggesting here ? George Floyd caused rents to decrease?

Housing prices haven't declined in mpls. Sales declined but prices have generally not declined at all. By all accounts rents have not declined either. Point is, that graph can go fuck itself too