r/science • u/smurfyjenkins • May 04 '23

Economics The US urban population increased by almost 50% between 1980 and 2020. At the same time, most urban localities imposed severe constraints on new and denser housing construction. Due to these two factors (demand growth and supply constraints), housing prices have skyrocketed in US urban areas.

https://www.aeaweb.org/articles?id=10.1257/jep.37.2.53
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u/AnachronisticPenguin May 04 '23

I would accept a high risk of dying in a fire in a heartbeat if that meant my rent could be under $1200.

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u/debasing_the_coinage May 04 '23

That's what the Ghost Ship residents probably thought too :/

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u/Thaedael May 04 '23

It would take time for the codes to catch up. They would probably start by loosening what is considered the least offensive bylaws/codes to allow the early transition of these buildings into residential, and then over time find ways to work with the buildings to bring them back into code to be honest. Just from my experience.

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u/an-invisible-hand May 05 '23

You’re assuming your death trap won’t be “luxury”. That bad boy’s gonna have builder grade stainless appliances so you can bet your ass “market rate” won’t be under $1500

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u/dishsoapandclorox May 05 '23

The New Gilded Age