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Old Posted Jan 25, 2021, 5:50 PM
BrinChi BrinChi is offline
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Join Date: Jun 2013
Location: Chicago, IL
Posts: 442
Affordable Housing

Quote:
Originally Posted by joeg1985 View Post
^^

The amount of developable land has little to do with affordability. As long as developers continue to build only luxury housing the cost of living in the city does rise. As well as the ever increasing property taxes, which is my landlord's excuse for raising rent. We definitely need a more balanced approach to new housing being built in the city.

This parking garage being transformed into housing is fantastic. This section of Broadway (Belmont to Diversey) is one of the coolest sections of Lakeview IMO but it still feels a bit too car centric. This should help break that a bit.

That's not quite accurate. Quality, market-rate affordable housing is the luxury housing of 10-20 years ago. Affordable (without subsidy) and brand new is an oxymoron unless you can use PVC piping everywhere, skip electrical conduits, use 2 X 4s and vinyl on the exterior, cheapest windows, etc... But I would much rather live in a quality unit from 20 years ago than a new house built cheaply.

https://www.strongtowns.org/journal/...luxury-housing

Unless your land value is increasing, housing is a depreciating asset.
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