You are correct, housing next to good transit is more in demand in the US than other housing. But
There is not much good transit in the US. Being next to a bus stop doesnt count if the bus takes 45 minutes to get anywhere.
YES. THERE IS NO HOUSING TO BEGIN WITH. Much of the time, when US cities build things like light rail stations, they build them along highways or industrial parts of town. The idea is that people will drive to their suburban homes, park at the light rail, and take the train to the city downtown. Is this a terrible assumption to make about peoples commuting habits? Yes. Is this a terrible way to design a transit system? Also yes. But to mess things up further, higher density housing is often banned around these valuable transit stops. Instead, they build high speed roads and parking lots (so walking from existing homes or businesses is not desireable or feasible) and then mandate that the area must be single family homes or office buildings or warehouses or whatever.
You are correct that housing built near transit would likely be in demand. But housing prices are brought down when more housing is built in general - the housing that is built doesn’t, itself, need to be cheaper.
You are correct, housing next to good transit is more in demand in the US than other housing. But
There is not much good transit in the US. Being next to a bus stop doesnt count if the bus takes 45 minutes to get anywhere.
YES. THERE IS NO HOUSING TO BEGIN WITH. Much of the time, when US cities build things like light rail stations, they build them along highways or industrial parts of town. The idea is that people will drive to their suburban homes, park at the light rail, and take the train to the city downtown. Is this a terrible assumption to make about peoples commuting habits? Yes. Is this a terrible way to design a transit system? Also yes. But to mess things up further, higher density housing is often banned around these valuable transit stops. Instead, they build high speed roads and parking lots (so walking from existing homes or businesses is not desireable or feasible) and then mandate that the area must be single family homes or office buildings or warehouses or whatever.
You are correct that housing built near transit would likely be in demand. But housing prices are brought down when more housing is built in general - the housing that is built doesn’t, itself, need to be cheaper.
Wow well that’s sad. Hopefully they continue building those appointments and the view of 2. changes.