Has anyone ever suggested otherwise?
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In the Bay Area, “luxury condos” is a common complaint used to oppose new units. Meanwhile, all the existing housing gets more expensive at a rate of roughly $100,000 more a year....
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$/sf would be a more accurate comparison. On that basis, new condos in the Bay Area are often higher than surrounding sf homes (contradicting the narrative that they will somehow decrease nearby property values, which almost never happens).
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I am trying to understand this convo. I'm in NJ, not CA. Is the point that sometimes / frequently "luxury condo" developments are opposed b/c they will displace existing owners (or tenants)? But sometimes opponents are just fighting density?
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It's a hilariously abused term all around. Developers apply it to otherwise normal units tricked out with a couple $ grand worth of fixtures from the "luxury" aisle at Home Depot. Housing opponents apply it to all density because they don't want density.
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"Luxury" is mostly just a salesman's word at this point. The "luxury" building that I lived in for two years was probably the most shoddy, cheaply-built place I've ever lived.
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This is true in housing generally. The 3-car garage in the burbs is defined as an upgrade, but it really means that the developer was too cheap to do proper indoor storage, so people have to use the garage.
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would be nice to add some 3-bed condos in buildings/communities w/ kid/family friendly amenities... Flip the expectations, don't need a fenced yard to raise children anymore *_0
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Im going on a twitter rant tomorrow about the state of the bay area’s housing market
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