Building new homes at the top of the market induces at “moving on up” effect that quickly creates vacancies in the least-expensive homes.
Conversely, blocking new housing in high-demand places makes wealthy people move into and renovate existing, once-affordable homes, raising prices.
Conversely, blocking new housing in high-demand places makes wealthy people move into and renovate existing, once-affordable homes, raising prices.
Reposted from
Andrew Rivas
Building market-rate/luxury housing relieves pressure on rents in lower-end housing. This is because absent the new luxury housing, wealthy people will move into older homes displacing lower income families. This process is called filtering. www.planetizen.com/news/2024/03...
Comments
If you took a shot everytime you heard "Up & coming neighborhood" you'd go blind
It is explicitly NOT about housing in low-demand areas experiencing population loss with lots of abandoned homes.
In the future, I would appreciate if you would limit your responses to my posts to things relevant to what I have actually said.
https://www.strongtowns.org/journal/2024/5/28/how-affordable-housing-distracts-people-from-housing-affordability