Why So Many Luxury Apartments Are Popping Up In The U.S.

This is why America needs to fully embrace Socialism. Housing 🏠 provided for the people by the government. No private corporations. Everything nationalized by the government. Think Castro's Cuba or Soviet Union era Russia. Otherwise prices for housing will just keep going up endlessly. I'm for the Socialist Welfare State. Housing 🏠 for everyone!

The MANY very wealthy Americans can afford them so why not? If you cannot afford to live in the city, do not live there. I don't. The US is huge. Fools cling when they should be mobile.

With rising apartment prices nowadays every apartment is considere LUXURY.

What type of regulation? Buildings required to have quality wiring and plumbing for example? Yes an onerous burden for developers! Give them a hug and a 100 percent tax break! Of course there are younger residents in these places who from childhood have been raised in near perfect homes where the slightest problem becomes a reason for an emergency visit to their psychiatrist.😓😥

Because even if they don’t rent it out, they can still put in the taxes as loss

why the rise? $$$$$ thats why.

You can say all you want, but the policy section left out the impact fees that can add $35,000-$50,000+ per unit in areas like CO, CA, etc. Davis Bacon wages can add 25% cost to a project, which is required on many affordable projects. Forgot to mention the XBE requirements, which can add an additional 15-20% cost premium to affordable projects. All of these are policy issues, but these people seem to be hung up on the developer 🤣 most developers get a 4% fee to get the project built, if they didn’t defer it or have major cost overruns.. that other 96% is the cost to get the project built. Lithc developer fees are different bc they get paid over long periods of time. Building affordable housing is so stupid, because you might build 1/10th of the amount of units for the same dollar amount compared to rehabbing existing stock. Why build 50 units at $350K each, when you can rehab 500 units at $35K each? Because it doesn’t sound as good. The affordable designation is usually only good for 15 years, so after that, it can go market rate & increase the rents so high ppl are pushed out. The city I’m in complains they lost 3,000 units that aged out of the affordable designation, but be proud they build 200 new units at the market’s highest price. The cities need to worry about maintaining the units they have instead of being idiots trying to solve a problem ssa backwards. I only say idiots because they point the finger at the developers & investors instead of actually fixing the leak in the affordable housing crisis. This year, they actually changed the legislation to drastically reduce the amount of rehabs that could keep the affordable housing stock level & push for new developments. 😊Sooooo dumb.

Migrants?

2 bed 2 bath 1087 sqft $3504 how about 2 bed 2 bath 950 sqft for $6000 in NY. NO gym and NO parking! smh

Dense apartment living coming to a neighborhood near you !

That last statement says it all.

had to turn the video off when the dude w the hat started talking

So It's Apartments With Condo Prices 🏷

They need to at least give people the option to buy. The corporations would still make huge profits, and give people the dignity of owning something. You also will generally get a better class of people than if you only rent.

But you don't address why the apts are so fugly. Brutalist, boxy, cookie-cutter monstrosities that blight the landscape, and they're slapped together not made to last. Hideous.

The criticisms of capitalism--as it relates to housing--often revolve around its lack of quality and safety regulations. The argument against increased bureaucratic oversight suggests that businesses should prioritize ethical practices, offering high-quality products and services at reasonable prices. This call for oversight stems from concerns about unchecked greed within capitalism, which can lead to issues like false advertising and subpar construction. One potential solution is the creation of standardized, nationally or internationally recognized definitions for "luxury" and "deluxe" items, setting quality and value benchmarks that empower consumers and promote fairness and competition. In essence, the debate revolves around finding a balance between capitalism's inherent profit motives and the need for ethical standards, ensuring that businesses prioritize quality, safety, and consumer well-being.

The answer: women

I hate how they all look the same. The Hyundai Sonata of apartments.

What about single men and woman that don't have Children and not many options of friends to room mate with? A single individual shouldn't be paying more then 1k a month in rent alone and most cases they can't. I DO NOT understand how the average person does it but i see it all the time. Someone enlightened me. Tf.

Nationalize all residential building projects