zlacker

The problem with imposing restrictions on real estate developers is that it reduces the amount of housing, which increases the cost. (Look at California, for example.)

I’d rather they force commercial developers to put in two bedrooms worth of housing for each full time employee worth of office space they add.

If the developers are short-sighted and only add high end McMansions and condos, that’s fine.

The housing market will eventually oversaturate, and those properties will end up selling at a loss to people that couldn’t afford them at the original price.

The Microsofts and Amazons of the world will end up paying eye watering premiums for open space floor plans, or luxury real estate developers will take a bath. Either way, not a tear will be shed.

>>hedora+(OP)
Your proposal is merely a preference for housing over commercial space. Presumably you have your reasons, but if covid sticks around a few more months (which it is certain to do) commercial space might be rented like crude oil: landlords paying tenants! We'll soon see office/retail space converted to expensive housing even without this aggressive intervention. Everyone is working from home now.

>>hedora+(OP)
That's fair. I'd be ok with forcing two bedrooms of housing for each worker space added.

I don't think all the McMansions and condos are good however. I'd rather you force people to add space for lots of people. Otherwise there'll be a period where you drive a lot of poorer folks away. Artists and retail workers and mechanics. People who don't work tech or finance or real estate. I don't know that cities can readily recover from it.

It's why I left San Jose. If it continues too long, it'll be why I leave Seattle. Give people reasonable rents, please. I want to live with artists and civil servants and retail workers and chefs and vets and all these people. It makes life so much more interesting