If the housing was unaffordable, then people couldn't buy it so it wouldn't get built. People are buying this type of housing in Somerville, Davis Square Condominiums notwithstanding. I think that the people who are buying this type of housing would argue that there's not nearly enough of it to go around and that's why there is such a premium for it. If more housing like this gets built and supply catches up with demand, it will get less spendy. We're not talking about McMansions on two acre lots or buildings with concierges--this is more or less the entry-level housing for Somerville now.
If what you mean is that there's not enough below-market housing available, then that's a totally different nut. But I'd be willing to bet that getting this particular developer to build fewer units will not result in the condos in this project being less expensive.
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Date: 2008-02-15 04:51 pm (UTC)If what you mean is that there's not enough below-market housing available, then that's a totally different nut. But I'd be willing to bet that getting this particular developer to build fewer units will not result in the condos in this project being less expensive.