alt Hacker NewsI’m interested to see what this does to rents overall. I assume these will not be as affordable as everyone would like/assume, at least not in the next few years, and will drive up rents in larger spaces.
But I’m glad we’re trying SOMETHING in order to combat the problems with affordability; let’s just hope we don’t even up reviving how the other half lives.
Why would they drive up the rents in larger spaces? At least part of the demand in larger spaces is from roommates who would prefer to live alone, some of them might decamp for options like these, or studios and one bedroom apartments, etc., if they are available.
As with all types of housing, there is no one type of housing that solves the problem. Whether we live under capitalism or socialism, the only way we solve housing is when everyone who wants to live in New York, can, everyone who wants to live in Kansas, can, everyone who wants to live in Fort Myers, can.
With markets, a shortage results in high prices and rates. Without markets a shortage results in long waitlists. There’s no way out, without quantity.
If we want people to live in large indoor spaces, and not SROs, we can’t get there in 99% of our land use regime is focussed on limiting the total amount of floor space that is allowed to exist within a given area. Legalizing SROs is insufficient, but necessary, just like legalizing larger apartment buildings in more places, abolishing single-family zoning, etc.