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goodsam2 t1_j2ys9dx wrote

Reply to comment by rvafun100 in Your City Is the Most Livable in America, Until We Publish This Article About It by ValancourtB

But look at the increase in demand, we have a rental vacancy rate of 1.7% when something in the 5-8% range is needed.

What you don't seem to understand is that we have increased the amount being built, but I think we need even more. The prices clearly indicate that demand is outstripping supply.

I think we can clearly link the lack of household formation to housing supply and housing prices. The household formation rate increased in the spring and housing prices spiked and supply was extremely low.

I really think Richmond city needs to be adding more units to stay affordable. I think the lack of building has been making the city more expensive and less cool more than any preservation has done.

You keep saying I'm too dumb to explain and yet I have data sources to back up my assessments.

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rvafun100 t1_j2yt3uw wrote

Vacancy rate is MUCH higher than 1.7%. Take a walk at night, you’ll see lots of dark buildings with “leasing now” signs.

One way to curb demand is to not haphazardly build build build…if potential transplants can’t find a place to live they move elsewhere, like Durham. Mind blowing right

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goodsam2 t1_j2yujoa wrote

>Vacancy rate is MUCH higher than 1.7%. Take a walk at night, you’ll see lots of dark buildings with “leasing now” signs.

You can have the apartment empty for some time, like if people were off or somewhere else at night or gasp turn the lights off at night.

>One way to curb demand is to not haphazardly build build build…if potential transplants can’t find a place to live they move elsewhere, like Durham. Mind blowing right

The way demand is curbed now is higher prices which I think changes who and what kind of person lives there. You can live in your place while your neighbors just go up in income as the neighborhood grows in price, this is the real gentrification. Gentrifiers were priced out of the neighborhoods they wanted instead of stuff being but for them. They will move in until the price reaches a level where Durham is cheaper which will take some time since Durham is way more expensive.

Agglomeration benefits are fought in this country for no good reason. Pissing away trillions because you were sold a lie.

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