General Discussion
In reply to the discussion: A solution to affordable housing... that Americans just don't seem to like. [View all]WarGamer
(12,354 posts)Here's what my city in SoCal does.
When they OK a permit to build 80 condos with a starting price of $799k... they force the builder to sell 12 of the homes for $650k
VOILA!! affordable housing.
A lotof people in this thread seem to think I'm talking about public housing or the "ghetto"...
I'm not. I'm talking about suburbs where an APARTMENT rents for $3500 and unemployment is quite low... lots of shopping, tons of amenities... but there's not enough housing and it's too expensive.
THAT'S the spot to plop down a few big ass buildings to house 2000 people who are all dental hygienists, managers, accountants and programmers. But instead of 600k or 800k...
Sell the apartments for cost of building and land... divided by number of units. Maybe $150-200k