Follow up - Affordable Housing

I took a moment to glance at the interest paid on a single $38,000 mortgage at 8% over 30 years.

$62,378.99

Yup, $62 thousand for the lendor's revenue.

If you filled an entire 10,000 unit gaiaship with $40,000 condos - the lucky lender would make 624 BILLION dollars.

So how much space would that really take up?

10,000 units at 800 square feet: 8 million square feet. Divide that by 4 stories: 2 million square feet per story. (I anticipate the gaiaship actually using upward to 5-7 stories on average with parking, retail and office space; but we're talking living space & mortgages only here. )

To break that down into acres: about 46 acres.

10,000 units - maybe 18 thousand people - living on 46 acres.

To give you some context - the latest announcements from Austin is the 'City within a city' being proposed has 8,700 living units for about 13,000 people, retail & park spaces on 350 acres.