The US doesn't have 500 million out-of-work children of peasant farmers to resettle in cities in the next 2 generations.
My guess is that if we re-zoned the Bay Area and replaced 1/4 of the current single family homes with 3-to-6-story apartment buildings we could cover several decades of regional housing demand and push housing prices down by 50%.
I live in a 7-story 28-unit Manhattan building. It sits on a plot roughly the size of my parents’ home in Cupertino, which houses 2 (6 around Thanksgiving). I don’t think the Bay Area has a 30x housing shortage.
My guess is that if we re-zoned the Bay Area and replaced 1/4 of the current single family homes with 3-to-6-story apartment buildings we could cover several decades of regional housing demand and push housing prices down by 50%.
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