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I tend to drive on the highways and main roads. My son goes cross country.
I am a passenger with my son driving and we are going on lots of back roads and there are huge apartment complexes under construction all over the place.
Not that I don't see lots of new apartments just from the main roads, but the number and size of the new buildings going up all over the place was a surprise. It appears that there will be plenty of apartments for rent for all the in-comers.
At one point in my life I'd be wondering who would be living in so many new houses and apartments, but unfortunately, I know the answer to that.
That's where the money is in the construction biz these days.
A 3800 sq.ft. McMansion can cost a contractor almost as much as a smaller 3-storey apartment, but the return to the contractor is over 3 times greater for the apartment than the house. The sales are quicker too.
Home builders always build to. where the market is, but they sometimes change the market too. The reason why so many McMansions were built before the housing bubble was because building a larger, fancier home was profitable for the builder, and a smaller starter home was not profitable.
Now, the market has gone the other way. Younger buyers want smaller and simpler and more affordable. They don't want big yards or big houses any more. The young are the ones the home builders are catering to now.
I have some mixed feelings regarding the higher density types of housing. So far I've yet to see an example of where it's enhanced a given area or neighborhood. Most often it's enhanced traffic congestion and sadly they don't tend to screen potential residents to a point of where they KNOW they won't be the type to end up causing trouble. I wish you folks a lot of luck as you'll need it with that kind of growth.
I have some mixed feelings regarding the higher density types of housing. So far I've yet to see an example of where it's enhanced a given area or neighborhood. Most often it's enhanced traffic congestion and sadly they don't tend to screen potential residents to a point of where they KNOW they won't be the type to end up causing trouble. I wish you folks a lot of luck as you'll need it with that kind of growth.
Maybe they will change their minds about building apartments since renters can continue to not pay rent according to the regime.
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