Most important part of the puzzle:pic.twitter.com/Kzdl47HIZ9
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We having baying hordes who advocate for and get scarcity and then wonder why we have no abundance. Truly it is a mystery.
Patrick, I know you love the hyper-dense environment, but do you see any negative externalities to density?
Tokyo isn’t hyper-dense! You can trivially find single-family residences on tree-lined streets! They just don’t vote down having a 450 door apartment 100 meters away!
I thought housing was very expensive in Tokyo, which informs us that they are not in fact building enough housing.
Nope. Since the 80s housing costs have stayed flat while the city has grown. Not only that, area of the average home in the city has increased.
I don’t disagree policy wise, but the real secret for Tokyo is the insane scale of their public transit system (which to be clear is quasi-privatized and is partially funded by the transit companies doing real estate development near their lines). Very hard to imagine here.
I was thinking about this as a potential way for @boringcompany to quickly profit off building new tunnels: they could buy up land anywhere that allowed suitable density, dig Loop lines to there, and sell the land to developers to create self-funded transit-oriented development.
Also important to note homes in Japan aren’t appreciable assets. They typically are leveled and rebuilt every 30 years so there are not many incentives for owners to horde them.
This is why Tokyo housing is affordable. SJ/SF's problem is rampant speculation, an accelerator to scarcity, but scarcity isn't the driver. Increased supply will never solve affordability for the working class, but it will definitely ease the highest rents, still helping some
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