Marty Chinn
Member
Tokyo is in a population decline which is one of the reasons housing prices is dropping.
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LA Weekly: You Officially Have to Be Rich to Rent in L.A.
- Thread starter Tripon
- Start date
Tokyos population is growing. Japans population is shrinking.
titiklabingapat
Member
If you want to see liberal NIMBY policies in action that is actively hurting LA and California as a whole read about the Mar Vista road diet saga.
fluffydelusions
Member
Seth Enosh
Member
So much this. For instance just outside Washington D.C. a local group, the "friends" of the Capital Crescent Trail, have been fighting with every legal avenue to stop a new light rail transit line that would link the rich suburbs of Bethesda, Chevy Chase, and silver spring with poorer and cheaper (lower rent!) neighborhoods to the east/south. All the usual code words are being used such as "crime", "protecting the environment", etc. when it's really about keeping the poor people from being able to access areas with more jobs and opportunities.
The way to deal with these rent increases is very simple:
* build more houses and apartments by relaxing zoning and height restrictions
* build more affordable mass transit that reaches neighborhoods that are currently low rent
Then just sit back and let supply and demand take care of the prices.
titiklabingapat
Member
Tokyo's population is growing. They are just building enough to keep pace with growth.
titiklabingapat
Member
Bonus points for 'protecting the character of the neighborhood'. That one is my favorite racist and classiest euphemism. It's usually liberals too that happily use it. Makes me want to slap them so hard.
I was watching House Hunters, and someone was looking for a place in "up and coming Inglewood".
I don't know who can afford to live in those.
Wrong guess, would you like to try again?
Yeah but then you'd live in the city.
Truth is, if you're not a single 21+ year old who loves the night life there's no real reason to rent in the city. It's a shit hole.
You get a place 30 minutes outside the city and you're looking at good neighborhoods with good prices (As far as California prices go).
Jon Carter
Member
Damn. How is that even possible?
Spiritreaver
Member
It's stuff like this that keeps me living in Oklahoma despite how much I hate it. My cost of living would skyrocket if I moved. I really want to live in Seattle, but it's not gonna happen on my income anytime soon.
I pay $475 a month for a spacious one bedroom in a suburb of Oklahoma City. Just me and my dog, quiet neighborhood, low crime.
...I live in Oklahoma though. Feels bad. Some day I'll get to Seattle. :\
I pay $475 a month for a spacious one bedroom in a suburb of Oklahoma City. Just me and my dog, quiet neighborhood, low crime.
...I live in Oklahoma though. Feels bad. Some day I'll get to Seattle. :\
Man, I went to UARK and loved Fayetteville. You don't have to be trapped in a suburb of Oklahoma City.
I am from NYC and a Dutch citizen. A lot of what your are feeling is grass in greener syndrome.
Besides west coast sucks.
Spiritreaver
Member
LA does suck.
You're right though, very much a grass is greener thing, but I've lived here my whole life. I wouldn't mind something new. I think I might move down to Austin or DallasFTW. I've tons of friends out there and the jump in rent is pretty small.
I know a lot of broke attorneys. The question is are they practicing?
terencecah
Member
inland empire stay winning (jk)
biggersmaller
Banned
I have a wife and 2 kids. I have no idea how people afford kids in cities like this.
It's expensive.
And all making tenements illegal did was make them illegal, one family per bedroom is still very much alive.
terencecah
Member
they are bulding the rams stadium there, so its going to blow up sooner or later
Gully State
Member
Not in Los Angeles County.
What do you mean?
The suburb cities are becoming just as expensive as the city proper in Southern California.
You'd have to go to Santa Clarita or Palmdale to see significantly cheaper rents right now.
Ah, unfortunately they are increasing (Doesn't help that we still don't have enough cranes to boost building speed) but they are still cheaper.
For example, you can get a cheaper place in Studio City than somewhere like Koreatown.
ghostofsparta
Member
those words bother me so much. it makes me feel like literal dirt. saying up and coming implies that the people who have lived there are nothing, and only now that other people are moving in is it worth something
Real and expected deflation?
titiklabingapat
Member
I wonder what will break this camel's back though. Things have to change and it will have to happen soon. I think the tides are finally turning with the rise of local YIMBY groups and the passages of several pro-growth propositions in the last five years. I think all or most of them passed, and the NIMBY ones all ended up in failure spectacularly.
All of us here in LA need to follow the Seattle example.
All of us here in LA need to follow the Seattle example.
Nope. On Tokyo it is cheap and easy to build new bedrooms. The Japanese government controls zoning, not the local municipalities. Housing is affordable in Tokyo despite increasing population.
Little Green Yoda
Member
Maybe it's my privilege showing but 55k salary (assuming two people in the household are working) in an urban area doesn't seem "rich".
Didn't realize that the median income in LA was that low (28k) until reading further in that article though.
I knew what your response was going to be, but surely we can agree that it's a combination of factors. Notable to me would seem to be
Zoning (Agree with you here)
Infrastructure (esp. transportation infrastructure)
Depressed wages and wage growth
Deflation and expectation of future deflation
Tolerance of much smaller living spaces (avg. Tokyo home is ~50% smaller than even the largest US metropolises)
History of the enormous property bubble bursting and government regulations make it less attractive to foreign investors (though foreign investment has been on the rise in recent years)
etc....
For a two bedroom in a large city, I would assume two incomes. Two ~75k incomes (and once you get to 5+ on the list, 50k) in the most expensive cities in the US doesn't seem like a crazy thing. Am I missing something?
Obviously for someone like me that can currently afford a two bedroom on my own in a much less expensive place would move to a single bedroom if I were to move to the coasts.
Obviously for someone like me that can currently afford a two bedroom on my own in a much less expensive place would move to a single bedroom if I were to move to the coasts.
Depressed wages and wage growth - Would you not agree that is the current US environment?
Deflation - The US is not exactly a runaway inflation freight train. "Expected" changes in currency valuation are usually away "priced" in, macro theory states un-expected is the concern.
Property bubble - Didn't we just have one of these?
Household size - this is actually, typically, a zoning issue.
Edit: Forgot to mention there was a spike in NYC homeless when. SROs were made illegal (Single Room Occupancies).
hurricanes
Member
Yeah... I live in a small one bed and it cost close to that in New York metropolitan area.
Cheap rent in the city? Better get half a pack of roommates and live far away from city center.
Cheap rent in the city? Better get half a pack of roommates and live far away from city center.
Haha, no. I'm not single and well over 21 and would not live anywhere outside the city of LA itself. Once you leave the city proper you might as well just move to any suburb in the country.
maximum360
Member
I live in DC. We're 11 years in on a mortgage now and I'm glad. Rent in DC is cray.
No, average wages are way up in most of the US cities that are experiencing these housing price explosions.
Our inflation is still above Japan's.
Our property bubble was not as severe as the one experience in Japan (this was probably my weakest argument anyway though, so whatever).
Anyway, you can't just cancel out variables here like it's an algebra problem and think that it proves your point that it's solely zoning laws leading to this run up of prices. You would need to actually control for each variable to make that case.
Pupperbabysassy
Member
Where I live most places start at 2900 for a one- bedroom. Maybe it's time to move south
Not arguing it is solely because of zoning laws, even shit like what legal system we operate under has an effect. I am arguing that an accepted means of increasing housing availability and lowering housing costs is to create more housing, local zoning laws being the largest determining factor preventing an increase in supply.
boiled goose
good with gravy
The only real solution is to build a lot more housing apartments.
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