Submitted by _crapitalism t3_126ngld in philadelphia
Indiana_Jawns t1_jec4uac wrote
Reply to comment by the_rest_were_taken in [Inquirer] Census data shows Philadelphia population drop in 2022 by _crapitalism
Yeah dude, your response to criticism of the amount of luxury housing being built is to suggest that the alternative is to build no housing at all. Or that if developers aren’t building luxury housing they’re going to lose money on a project
the_rest_were_taken t1_jecaphs wrote
The person I responded to was arguing that new “luxury” housing raises rent prices across the board. If we pretend that nonsense is true then isn’t the solution to rising rent prices to stop building “luxury” housing?
My second point (that you misinterpreted) was that if developers were forced to only build affordable housing they would have to do so at a loss because construction costs in our region are too high to support a unit price that would be considered affordable. It’s not even close when you factor in added costs for parking minimums, height and other zoning restrictions, and elevated land costs due to the structure of our real estate taxes.
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