NYC has had so much downzoning too. The icon of the city, the Empire State Building, now has a floor area ratio about double what’s permitted in that district. Many historical buildings, just like ESB, simply could not have been built today under current zoning regulation.
The city’s original 1916 zoning regulation permitted a hypothetical maximum population of 55 million; after WWII the new zoning regulations essentially limited hypothetical maximum population to a little more than 10 million if everything is fully developed. Recent initiatives like City of Yes did too little to reverse the trend.
By what measure are you saying they've taken the opposite approach? It seems to me their approach has been nearly identical, just a little less restrictive.
Everything has a gigantic depends* on it when it comes to RE. People want to find one reason why things are bad, but it is always a big bag of mixed things.
When I was in Vancouver, people kept saying if we got rid of rent control, houses will be built, rent will come down. But houses are expensive to build, and they need to make money asap in the “exit economy”. They won’t come up easily, unless they make it cheap to build, which isn’t happening. Rents just started coming down, but so far insignificant amount (I just checked, a place I paid $2500 for in 2019, is going for $3300 after the decrease!), and demand curbing had more influence on it. Personally, I think we shouldn’t force people to move to a different area because rents skyrocketed. I’m all in support of getting paid out though.
People look at Tokyo, and talk about “less-zoned build whatever, and no rent control, thus more or less affordable”. Which also depends*. YoY rents are going up by 10-15% right now, even more in some areas. It’s unreasonable for a good chunk of residents. Speculation is big influx of money from China. But you can actually challenge the rent increase in a good chunk of cases. So it’s a pseudo-rent control.
I’m not saying something is right or wrong, just saying everything has multiple layers of problems.
It's simpler than you're implying. Vancouver, like most cities, has dramatically limited what land you can build on. More than half the city is restricted to nothing larger than individual houses.
Tokyo, similarly, has hit the limit of what they allow to be built under the highest density of their stepped national zoning levels.
NYC has had so much downzoning too. The icon of the city, the Empire State Building, now has a floor area ratio about double what’s permitted in that district. Many historical buildings, just like ESB, simply could not have been built today under current zoning regulation.
The city’s original 1916 zoning regulation permitted a hypothetical maximum population of 55 million; after WWII the new zoning regulations essentially limited hypothetical maximum population to a little more than 10 million if everything is fully developed. Recent initiatives like City of Yes did too little to reverse the trend.
NYC zoning is less limiting than LA, but still extremely limiting.
By what measure are you saying they've taken the opposite approach? It seems to me their approach has been nearly identical, just a little less restrictive.
Everything has a gigantic depends* on it when it comes to RE. People want to find one reason why things are bad, but it is always a big bag of mixed things.
When I was in Vancouver, people kept saying if we got rid of rent control, houses will be built, rent will come down. But houses are expensive to build, and they need to make money asap in the “exit economy”. They won’t come up easily, unless they make it cheap to build, which isn’t happening. Rents just started coming down, but so far insignificant amount (I just checked, a place I paid $2500 for in 2019, is going for $3300 after the decrease!), and demand curbing had more influence on it. Personally, I think we shouldn’t force people to move to a different area because rents skyrocketed. I’m all in support of getting paid out though.
People look at Tokyo, and talk about “less-zoned build whatever, and no rent control, thus more or less affordable”. Which also depends*. YoY rents are going up by 10-15% right now, even more in some areas. It’s unreasonable for a good chunk of residents. Speculation is big influx of money from China. But you can actually challenge the rent increase in a good chunk of cases. So it’s a pseudo-rent control.
I’m not saying something is right or wrong, just saying everything has multiple layers of problems.
It's simpler than you're implying. Vancouver, like most cities, has dramatically limited what land you can build on. More than half the city is restricted to nothing larger than individual houses.
Tokyo, similarly, has hit the limit of what they allow to be built under the highest density of their stepped national zoning levels.
Nah, watch this if you have time: https://www.youtube.com/watch?v=kpK5HiCKfgU
At least watch this money shot: https://youtu.be/kpK5HiCKfgU?si=YNQBxsn15NxGdQQ0&t=272 (wait for the video to reveal the construction years)
As Max Fisher puts it: American cities have been frozen in amber.
This is such an amazing video. It collapses about three years of my casual research into housing down into just a few minutes. Thanks for sharing.