Tech’s Wealthy Enclaves Hurt the Country and Tech Itself

Re:Tech’s Wealthy Enclaves Hurt the Country and Tech Itself by iamcasen on Monday April 03, 2017 @02:24PM (#14025579)

Even if it was easier to build in SF, the cost of investment is SO HUGE, that the only way to recoup it is to make it a luxury high-rise that does nothing for the non-wealthy residents of the city.

Developers of new buildings absolutely do not want rents to drop, because otherwise there would be no reason to develop the area. The cost of land is extremely high.

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Re:Tech’s Wealthy Enclaves Hurt the Country and Tech Itself by refurb on Monday April 03, 2017 @03:22PM (#14026176)

This doesn't make sense. If I build a ton of luxury apartments and fill them with willing buyers, then won't those buyers be giving up their own housing?

Overall, the total amount of housing increases which should drop prices.

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Re:Tech’s Wealthy Enclaves Hurt the Country and Tech Itself by iamcasen on Thursday April 06, 2017 @01:41PM (#14052733)

If it costs you 500,000,000 dollars to build a building, you need to charge a certain amount of rent for the investment to pan out. Hint: it won't be cheap.

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