On: Facebook offers to pay Menlo Park $600k to hire a ...

[harlanlewis]

I absolutely agree with the sentiment, but density housing on high value property tends to result in high rise luxury units rather than affordable apartments.

There are worse things, but it doesn't really address the problem.

[jefftk → harlanlewis]

When you can only build a small number of apartments you make the most money building luxury ones. But:

(1) If we allow more building we end up with as many luxury apartments as there's demand for and developers switch to building more affordable ones.

(2) When a rich person moves from wherever they're living now into a luxury apartment that opens up their previous apartment somewhere else.

[cynicalkane → harlanlewis]

Yes it does. Housing is a broad market. Scarcity of housing is why a home in a faraway, dangerous neighborhood in the Bay Area could still cost $600k.