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By A Smith (anonymous) | Posted July 02, 2009 at 15:40:15
Ryan >> cities with extensive low-density, suburban development have seen the steepest property value declines
They also ran up the most in during the boom...tinyurl.com/ldlp6o
>> 2. Density is popular and commands a premium price in real estate markets.
If this is the case, then why does downtown Hamilton have such low real estate prices, while Ancaster's are much higher? Hamilton's downtown has more public infrastructure per unit of area than any other part of the city and yet nobody really wants to live there.
Perhaps, people actually like living where homes are kept in good repair, where people have money to spend at local businesses and where the overall feel of the neighbourhood is positive and safe. Downtown Hamilton has none of these things and restrictions on consumer choice will do nothing to fix this.
If the city scrapped zoning requirements, this would let developers build according to what brings them the most profits. This is important, because profits are directly correlated with happy customers. By limiting developers ability to make profits, you limit the happiness of the home buyer. Is that a good way to attract people downtown?
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