New-build apartment complexes charge what the market will bear. The market will bear such a high price because the zoning code restricts supply by limiting where the apartments can be built and mandates expensive amenities (most notably, dedicated parking spaces).
Relax the zoning code and more, cheaper, apartments would be built.
Although I acknowledge that those issues are real and important, I’m skeptical about assigning too much weight to them in terms of causes of high housing costs. Frankly, prices in most other parts of the country are similarly bad even without those factors in play.
I Florida apartment complexes are being built to increase population density and gouge money. Rent here is $1600 - $2000.
New-build apartment complexes charge what the market will bear. The market will bear such a high price because the zoning code restricts supply by limiting where the apartments can be built and mandates expensive amenities (most notably, dedicated parking spaces).
Relax the zoning code and more, cheaper, apartments would be built.
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Although I acknowledge that those issues are real and important, I’m skeptical about assigning too much weight to them in terms of causes of high housing costs. Frankly, prices in most other parts of the country are similarly bad even without those factors in play.
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