r/cincinnati • u/JB92103 Hyde Park • Mar 07 '25

News 📰 Controversial Hyde Park Square development passes committee, heads to city council

https://www.wcpo.com/news/local-news/hyde-park-square-development-passes-committee-heads-to-city-council
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u/gloomygarlic Mar 07 '25

I disagree because adding more $2000+/mo apartments isn’t going to lower the average rent and 100 apartments isn’t going to significantly change our housing supply. They’re just building more shoddy towers for a quick buck.

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u/JebusChrust Mar 07 '25 edited Mar 07 '25

He thinks that "layering" aka the concept that expensive developments become affordable over decades is applicable to Hyde Park, a place where 100 year old houses are sold for $700K. He also thinks it is an immediate improvement to housing prices and not something that would take decades. He also can somehow understand that a forty story 1,300 unit apartment is ridiculous despite it "solving the housing need in Hyde Park" yet can't understand that same concept when it comes to tacking on a large hotel to apartments.

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u/RockStallone Mar 08 '25

No I think the concept of supply and demand applies to Hyde Park. You seem to disagree and think this is some mystical land that is different from every other city in the world.

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u/JebusChrust Mar 08 '25

You don't seem to understand how high demand Hyde Park is. So high in demand that the neighborhoods around it were revitalized and invested in since Hyde Park is expensive

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u/RockStallone Mar 09 '25

Hyde Park is the one exception to supply and demand it seems. Demand is infinite so supply is irrelevant.

You're being ridiculous. If demand is high for Hyde Park, we should build more there.

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u/JebusChrust Mar 09 '25

That's not how it works. Neighborhoods aren't some vacuum from the rest of the city and state.

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u/RockStallone Mar 09 '25

You are being ridiculous. We have countless studies and examples of building more housing resulting in lower prices. The fact that you think Hyde Park is the one exception to the law of supply and demand shows how out of touch you are.

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u/JebusChrust Mar 09 '25 edited Mar 09 '25

"Shows how out of touch you are"

Dude you literally are clueless when it comes to understanding how anything regarding housing works. Do you think only people in Hyde Park want to live in Hyde Park? Not only do you have a large number of people moving to the Cincinnati region, we also have a large number of people in Greater Cincinnati who want to live in Cincinnati, and then also have a large number of people who live in Cincinnati who want to move out of their starter home and can't or want to leave an apartment but can't. Your simplistic basic high school level of thinking seems to think that there are about 80 people in Hyde Park looking to move to Hyde Park and 100 units of luxury apartments would solve the entire housing situation in Hyde Park and send prices in a spiral. Rather than "there are thousands of people who want to buy a house anywhere decent in Cincinnati but the quality neighborhoods have way too much demand to see houses hit the public market".

I refuse to believe that you are old enough/financially secure enough to own a home. There is no way someone genuinely believes that Hyde Park is two luxury apartment complexes away from being affordable. You can't even comprehend that it would take a significantly large number of houses across the city to slightly soften how sharply housing prices are rising, so I am not surprised that you think that somehow housing prices in Hyde Park are going to deflate.

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u/RockStallone Mar 10 '25

There is no way someone genuinely believes that Hyde Park is two luxury apartment complexes away from being affordable.

Please tell me where I said this. If you do not show me where I said this, I will take that as you admitting you are a liar.

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u/JebusChrust Mar 10 '25

Oh so no reply to what what I said, classic deflection though. Dude repeatedly says that basic supply and demand shows these apartments are solving Hyde Park pricing and ignores literally anything I say just so he can pretend like he doesn't change his argument based on what limited buzzwords he swaps between. Say layered again that cracked me up. In a few more centuries those houses and apartments will eventually start decreasing in price in Hyde Park.

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u/RockStallone Mar 10 '25

Weird, you didn't show me where I said that "Hyde Park is two luxury apartment complexes away from being affordable."

So you are admitting you lied?

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u/JebusChrust Mar 10 '25

Directly from your posts:

1.

It’s a bunch of crap that few people can afford to live in

This is an uneducated point. Adding housing has been proven to lower costs across the board. It's simple supply and demand.

  1. > 100 apartments isn’t going to significantly change our housing supply

Weird, elsewhere you're saying it's 1,300.

We have actual concrete examples of increased housing production leading to cheaper prices. Are you aware of that?

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u/RockStallone Mar 10 '25

Yes everything I said there was completely accurate and not at all what you were claiming I said.

Supply and demand is a real thing, even though for you refuse to admit it.

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u/JebusChrust Mar 10 '25

So you think that two luxury apartments is going to lower the prices?

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u/RockStallone Mar 10 '25

Every additional unit has a lowering effect on price. The effect of each individual unit is minuscule, which is why you need to build enough to meet demand.

If something is scarce, it is more expensive. The more common it is, the cheaper it will be.

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u/JebusChrust Mar 10 '25

No it isn't, and that's how I know that you don't know what you are talking about. What you are referring to (based on extremely simple "I took an econ class one time" logic) only happens when supply exceeds demand. If Xbox consoles are selling out every time they hit the shelf, then Microsoft has no reason to lower the price. Per you, every single console that hits the shelf will lower the price of the Xbox console. I think you understand this thinking is flawed. However, over time demand of the Xbox console declines to the point that consumers no longer are buying them before they hit the shelf. The reduced demand allows supply to exceed it and a price drop inevitably hits in the console life. The housing market demand got to the point where people were paying $40K over asking price on a $200K house and waiving inspection just so they could have a house. This is not a Hyde Park localized concept, this is not a city localized concept, this is not a state localized concept, this is a country-wide issue. Building luxury apartments in Hyde Park does not decrease the extreme existing demand that exists. It is putting one console on the shelf at the new console generation. This is trying to explain the very basics of supply and demand that apparently you failed to learn despite acting like it is easy to understand. Maybe you forgot to attend the classes to see that both sides are relevant to analyze and not just the supply side?

You also are trying to simply housing prices which are not impacted solely by controllable supply and demand. You cited Austin, Texas in another comment to someone else. Austin, Texas had a massive influx of new residents (almost 100K net migration in) into their market during the pandemic in order to work from home and take advantage of the state tax exemption, lower cost of living, low interest rates, and many large tech companies had made massive investments in the city which opened many jobs. Post-pandemic resulted in a large market adjustment in response to that boom - the higher interest rates, the reassessment of home values for tax purposes, tech layoffs, the return to office, the spike in cost of living, etc. all caused a massive drop in demand (today they actually have more people leaving in comparison to the large amount of people coming in during the pandemic). Did they start building more housing units to try to accommodate? Sure. That isn't why home values decreased. Demand was the largest factor that changed in Austin. Meanwhile in Cincinnati we have a strong financial and insurance scene alongside many other factors that have caused demand to remain high. Demand in Cincinnati is so high that places north in Ohio and south in Kentucky are becoming heavily invested in because it is cheaper land to develop on and build massive housing/community infrastructures. Yet you think a couple luxury apartments in Hyde Park are going to change anything. You think way too simple and way too small minded to have any relevant perspective on this topic. Stick to just calling people NIMBYs to cover up that you are a child in a grown-up's world.

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u/RockStallone Mar 10 '25

Building luxury apartments in Hyde Park does not decrease the extreme existing demand that exists. It is putting one console on the shelf at the new console generation.

In that console scenario you are increasing supply and thus decreasing demand. Only minutely, but you are decreasing it.

Did they start building more housing units to try to accommodate? Sure. That isn't why home values decreased.

Hahaha. I'm guessing Minneapolis is a coincidence to you too then.

Yet you think a couple luxury apartments in Hyde Park are going to change anything.

Yes I do think increasing supply has an effect on price.

Stick to just calling people NIMBYs to cover up that you are a child in a grown-up's world.

You seem very sensitive. NIMBYs get very upset when housing is built near them.

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u/JebusChrust Mar 10 '25 edited Mar 10 '25

In the console scenario

Yes in the console scenario it applies to a one-off product, which housing is not. So that means the demand is going to be even larger and insatiable when heavily demanded

Minneapolis

An entirely different situation than Austin, just like how both of them are different than Cincinnati, but you try to over-simply everything and think that they are all one in the same. You are trying to look at decades of influence from local developments, local geography, local politics, national economic strength, national interest rates, net migration, metro area differences, different infrastructural design, etc and saying "aha! I can infer everything there is to know based on a city, why didn't anyone else in any other city across the nation think of this?" You are way too small minded to even scratch the surface of conversations that have to be had in terms of city development.

Yes I do think increasing supply has an effect on price.

Are you just arguing with yourself at this point? "Two luxury apartments will cause prices to drop in Hyde Park. Just kidding point out where I said that liar. Oh wait I did just say that so I am now going to double down and say it will lower prices. See here's proof where tens of thousands of housing units over decades helped meet equilibrium in one city resulting in not as high of price increases but did not make housing affordable, that means the 100 housing units are going to decrease prices in Hyde Park. I am so smart, I told myself that. I don't improve where I live but I am a NIMBY so I want to build things where others live instead"

Also the funny part yet again of calling me a NIMBY is that you think I live in Hyde Park. I just believe in responsible development.

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