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Sam Gilboard's avatar

The reality is that the narrative has shifted over the last 2-3 decades - from how do we get more new homeowners and renters into homes to how do we keep these people in their homes. Turnover is important. Upward mobility is important. Make room so the next generation or next income class can have their shot. Can’t be done without building new supply at all price points. Affordable is important. Market rate is important. Luxury is important.

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Seth Zeren's avatar

Hi Lee, I expect we come at this with some different priors. I'm curious, what is the housing growth rate, in % of existing housing stock terms? What are the demographics of new arrivals (i.e. who is bidding up home prices in individual instances)? Does the zoning ordinance that you say isn't restrictive require parking minimums?

I think it's possible to get a lot of growth without just horizontal expansion. I'm a big fan of LVT, though I'm not sure it'll make development more popular (you'll get less tax revenue from big new buildings), but the incentives will be much better on the private side.

My sense is that community is something that people have always created where ever they dwell together. Top down regulation, while necessary in some cases (where externalities are a problem in particular), don't seem to me to be where community comes from. I.e. you'll get more community from a town with 20 small developers free to work in their neighborhoods, than with a planning process with great "community engagement."

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