Low rent apartment building should lower the land value around them. They are supposed to be in "poor" neighbourhoods that usually people avoid. Currently every high density building is making land value go crazy and it's not realistic. Same goes for some of the commercial buildings. Ppl don't want to live close to gas station so it should lower land value around. Would be also nice to have district policies banning certain commercial buildings.
#Low rent apartments should lower the land value instead of increasing it.
dim pike
tough current
reasonable, because people mostly will choose to live on large apartment not that, unless they're student or poor
vestal mountain
Questionable. The noise pollution effects are also used to simulate NIMBYism like not wanting to be next to a gas station. Low rent housing, however, is very valuable property. It's a LOT of separate apartments.
lucid karma
its low rent housing, poor people and criminals will live there!!! thats bad bad bad! land value should go 📉
radiant lichen
#1180637483931816078 message > My proposal to land value customization
bright drum
icy have you not seen New York City?... the vast majority of buildings there are "low cost buildings" and they cost a Lot to rent an apartment in...
frail dawn
its low rent housing, poor people and criminals will live there!!! thats bad bad...
If the local Commercial and Industrial have low wage jobs, they need places to get workers from. Low cost housing is the only place such workers could afford to live. If you take that away, you have the job but no home - homeless. Homelessness drives values down. So, the affordable housing is increasing land values by:
- Reducing homelessness
- Providing businesses access to low wage workers
lucid karma
skill issue
mental slate
icy have you not seen New York City?... the vast majority of buildings there are...
This 👆Land value in real life is affected by many factors not just the building or the people that live there. Buildings have long lifespans for the most part and the areas where they are located can “outgrow” the income level they were first developed in. Just look at gentrification.
Also typically, high density areas actually see an increase in land value regardless of what’s there because it’s simply supply and demand. There’s less land to develop so parcels increase in value.
solemn shell
but wouldn't demand for housing affect land value? I just know this irl I might be wrong. Since even if houses/aparments are medium-low quality they're still expensive if there are not enough houses/apartment