Quote:
Originally Posted by eschaton
I actually heard Chicago did this in some sort of misguided attempt to "preserve affordable housing" and then was shocked when three-flats were converted into single-family homes for millionaires instead.
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At least at the urban neighborhood level, downzonings are almost always believed to "preserve affordability" when ususally they do the opposite (of course some folks are just cynically keeping new development or others out).
But, increasingly, suburban downzonings are probably "preserving affordability" because market preferences are mostly for multifamily and in-town living, so when you preserve 3-acre minimums in backcountry CT, you've made RE cheaper because people don't want to live like that anymore.