Some politicians don’t buy the idea that an additional supply of housing units, at any price point, will lead to more units of affordable housing. They do not accept that increasing the number of units overall, or greater supply, reduces costs.
What they see are swanky high end homes being built and swanky high income people moving in and absolutely nothing happening to the other end of society. So who’s to blame them?
In order to assist in smoothing out some of these misconceptions, it’s necessary to beg people to accept that housing is not an ordinary commodity, like clothing. Everyone needs housing and clothing, but that’s where the similarities ends.
Poli-types and activists talk about affordable housing as if it were one line of housing, like an evening gown is one line of a designer’s seasonal collection. If you only make evening gowns there’s nothing for the average Joleen to wear. We must sew up some practical shirtdresses! It’s that simple: Build affordable housing.
There are two conceptual problems with treating housing like clothing (just pick the right line for goodness sakes!) Housing is a good that is used and reused as opposed to being disposable. And secondly, in part due to this, over time (time is important) depending on how much maintenance it receives (maintenance is important) a home’s usefulness and hence value fluctuates.
When left unattended for too long, the structure depreciates and the land it sits on becomes disproportionately valuable.
Whereas a community doesn’t want too much time to pass with too little maintenance (which creates slums), this is often the scenario playing out for NOAH (naturally occurring affordable housing). A long time landlord may get to the point of not being energized by upgrades and flashy renovations. He or she may be riding out the property’s usefulness as long as the tenants are amicable.
But time never stops. And mechanicals get old. So these situations are only sustainable for so long. When left unattended for too long, the structure depreciates and the land it sits on becomes disproportionately valuable. Down comes the structure to make way for a swanky new one.
Since new is expensive, expensive people move-in. But as long as the new construction is adding units to the pool of housing, and not just being filled with newcomers, then homes are freed up for folks to stair step up through more choices.