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Re:Employment, construction, and the cost of San Francisco a... by eru on Tuesday May 17, 2016 @01:00AM (#11711441)
If you don't build luxury housing for wealthy people, they just bid up the existing housing stock.

Look up filtering down. As houses age, they become less luxurious.

See http://cityobservatory.org/what-filtering-can-and-cant-do/

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