No Cheap Inventory. Sales Falter

[Charles West]

I thought Randolph meant burnout when 'crispers' was thrown out there. I'm with Timd354 but I don't have specific figures at hand. I believe here in the northern California region fees, permits, environmental reports add roughly $100k to the price of a single family residence. One of the reasons for this has nothing to do with planning or good environmental stewardship but simple economics. The state is upside down with it's pension system, welfare programs and related expenditures. Meanwhile the infrastructure crumples and the lefties scream for rent control. My car registration jumped 200 bucks this year to almost $700 and I hate driving on the roads. Perfect!

 

[timd354]

I thought Randolph meant burnout when 'crispers' was thrown out there. I'm with Timd354 but I don't have specific figures at hand. I believe here in the northern California region fees, permits, environmental reports add roughly $100k to the price of a single family residence. One of the reasons for this has nothing to do with planning or good environmental stewardship but simple economics. The state is upside down with it's pension system, welfare programs and related expenditures. Meanwhile the infrastructure crumples and the lefties scream for rent control. My car registration jumped 200 bucks this year to almost $700 and I hate driving on the roads. Perfect!

The Bay Area, is a beautiful example of how land use restrictions have severely driven up the price of housing. I remember reading a study of the San Jose housing market years ago and the authors of the study concluded that land use restriction added over $600,000 to the cost of a basic single family home. The first time that I visited that area I was shocked at how much available and developable land that has been put off limits to development...just south of San Jose, is huge area of flat valley land that is prime development land located right off of US 101 that had been put out of bounds for development.

The Bay area is 75% open space, yet because of land use restrictions, development potential is severely limited:

https://www.forbes.com/sites/scottb...-of-the-land-constrained-city/2/#4d210a734b0d

https://www.forbes.com/sites/scottb...co-develop-under-an-open-market/#5210f56378ae

 

[Joe Flacco]

Open space is nice though.

 

[Joe Flacco]

Every time I visit New York I can't wait to go home.

 

[timd354]

Open space is nice though.

I don't think anyone would argue with that, however 75% open space in a market with a severe housing shortage and very bad housing affordability problems is absurd since most of that open space is due to legal restrictions imposed by the same politicians who bellyache about the lack of affordable housing, and bellyache even more about the environmental damage caused by automobiles apparently because they are completely oblivious to the effects of the sever land use restrictions