The need for more condos

Before I moved to San Diego, I was living in Los Angeles and my friends were all in "the industry" somehow - either a writer, director, actor, musician, or an Ari Gold wannabe.  I was at my friend's apartment one day watching college football when he tossed me a script written by a mutual childhood friend.  I looked at it and it was a spec for "The West Wing."  I opened it up and read it feverishly.  As I expected it was nothing short of fantastic.  There was one topic in the script that has stayed with me for a while.  The scenario was that New Jersey ran out of developable land.  It was a fleeting sub-topic of the script but nonetheless, it got me to thinking.  What if New Jersey or another state, like Rhode Island, ran out of developable land?  Would the State use eminent domain to reclaim single family home and build condos or townhomes?  Would politicians be easily swayed by developers with big pockets to tear down low-income areas and rebuild them?  New Jersey condos, like those in NYC will soon be in as much demand due to that old model we all learned in ECON 101, Supply and Demand.  Watch out for areas like Jersey City, to continue to go vertical as the demand will surely be there.



Comments

If that is indeed the future

If that is indeed the future for large cities, I only hope that developers come up with something that is architecturally interesting and not just a bunch of tall boxes in a row. Here in Charlotte, we're actually experiencing a glut of condos as developers are buying up all the available land downtown.

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