I'm genuinely confused by the point of this one, maybe I just don't have the brain to comprehend all of this. I know Chuck's all buzzwords and no bite but still. I don't understand how people can continue to eat this up.
I had assumed that there might be something on how "affordably priced" units fucks up the rest of the housing market and worsens the cycle, but instead it's shilling doubling up with "accessory units".
I guarantee that Chuck's not renting out
his spare bedroom to strangers.
If we overbuilt for a few years suddenly there’s enough housing that the prices start cratering (which the government is assbolutely terrified of, because that IS the shit that would result in revolution).
That did happen in Houston, what happened is that rents plummeted and started to become slums virtually overnight and what couldn't be leased at market rate was simply demolished.
For your reading pleasure--
page 1,
page 2
Areas that get rid of their parking are areas that people don't go to anymore. There are lots of high streets and downtowns that have killed themselves by removing/charging exorbitant rates for parking. The only way it doesn't result in destruction is if the density is so high that the businesses don't need anyone from outside the neighborhood to visit to stay in business. In practice, I've noticed that dense areas of American cities have few businesses besides bars and restaurants.
Speaking of Houston, I remember the Midtown area (an up and coming area with lots of bugmen housing blocks) got rid of parking minimums. In 2019, a Whole Foods Market opened up in an apartment building, yet four years later
it closed (
archive).
The article mentioned parking difficulties and despite the parking being free, either the access into the store revolves around some awkward escalators or
not connected to the store at all.
What the article doesn't mention is that at the time of Whole Foods' closing in 2023 there were two other supermarkets within a one-mile radius that closed for unrelated reasons during this time, and the only other supermarket is a Randalls that opened in 2002, with a
decidedly less complicated parking setup. I believe Randalls also owns their own building.
Meanwhile, the Whole Foods has two other stores within a few miles to the west (also in yuppie neighborhoods) but both of them have surface parking. With this, we can infer the following:
1. Whole Foods tends to attract a lot of people from outside the neighborhood because despite being degrading under Amazon, it's still a destination. No one from outside the neighborhood was going to the Midtown besides local residents, so it was underperforming, especially compared to the two other locations.
2. Grocery stores have a very low margin, so they prefer to own their real estate. Even if Whole Foods was getting more volume than Randalls, it still wasn't fighting an uphill battle with lease requirements.
3. Randalls built at a time with stricter rules on parking, so it has plenty to go around, and has very visible surface parking, not a parking garage tucked away behind the building.