Viewing a single comment thread. View all comments

Maxpowr9 t1_j6og2df wrote

Reply to comment by BonesIIX in High Density Housing Development Near South Shore Plaza Receives Pushback by amos106

>Man, I wish there was a better way to solve the housing crisis aside from essentially selling all newly zoned residential land to corporate development/management companies.

You're not gonna find much land left to build SFH neighborhoods in Eastern MA; and if you do, they certainly won't be cheap (million dollar homes on third acre lots). Local developers don't have deep enough pockets to spend 8-figures for the property alone and then the cost to redevelop it either. The alternative is abandoned property.

15

BonesIIX t1_j6ohikr wrote

I mean there are high rise residential buildings that are condos rather than apartments. It seems like people simply forget that it's possible to have a construction company that isn't also a management company.

There's a way to build density but actually give the occupants actual ownership. That's my problem with all the new developments. How is it going to help someone to buy a living space when they spend about the same, if not more to rent than a mortgage?

Equity from an owned unit is so fundamentally important for wealth building over the decades you live in a space. Sure people have space to live but are essentially kept at a huge financial disadvantage by living in apartments vs condos.

1