Friday, January 18, 2013
Stephen Smith argues that zoning rules have kept Brooklyn expensive:
[N]orthern Brooklyn is underdeveloped. The hip neighborhoods around the L
train, the main vehicle of gentrification in Williamsburg and Bushwick,
are less than half as dense as Brooklyn neighborhoods like Crown Heights and Bed-Stuy.
Because the amount of housing in the neighborhood is effectively capped through zoning, demand has spilled out of the neighborhood much faster than it would have if Williamsburg had been allowed to grow.