No More Mansions?

The city is voting this week to limit the sizes of houses in various neighborhoods throughout the city (48 different hoods). The sizes would be limited to the larger of 2,300 sqft or 40% of the total lot size.

This puts into conflict, two competing rights. The rights of the existing home owner to enjoy their home as they purchased it (with a view of the sun, the treeline, the skyline, birds, sky, grass and whatnot -- and the general feeling that their house is tiny), and the rights of the homeowner to develop their property however they see fit.

Over the years, many neighborhoods have developed covenants and agreements that run with the purchase of neighboring houses to keep out monstrous development, but some obviously did not. So now we have an ever more succesful Austin producing wealthier and wealthier homeowners who in turn would like a larger, nicer house.

So what do we do? Do we restrict homeowners from participating in a more free market for home devleopment? If we don't, it might even drive out long time residents who cannot afford to pay increased property taxes due to rises in property value from neighboring home improvements. On the other hand, by restricting development within Austin, we will be driving the wealthy outside the city where their higher tax dollars will go to the development of Leander or Liberty Hill.

Without a doubt, markets are often in need of regulation when there is a clear and obvious threat or concern where such threat or concern would be ameliorated by a rule or regulation. Here though, the benefits and detriments of either course of action are not clear and so I say, let the market govern.

Markets, when operating correctly, are amazing things. They find the best suited buyer, the best product, the best price and the best balance of all things that are beneficial.

When in doubt, use the market.

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The Planning Commission will hold a public hearing and vote on rules to limit home sizes at 7 p.m. Tuesday in Room 325 of One Texas Center, 505 Barton Springs Road.

The City Council will hold a public hearing and vote on the rules at 6 p.m. Thursday at City Hall, 301 W. Second St.