Re:Silicon Valley Poverty Is Getting Much Worse Amidst Insan...
by yummyfajitas on Tuesday March 12, 2013 @07:55AM
(#5361274)
If all of them do it, then 20 people times the number of lots might find a place to live, except it's no longer the kind of place where they want to live.
If that were true, why would people bother building so many apartments? Are investors just a bunch of idiots?
People want to live in Palo Alto because there is a cluster of a certain type of people there. If you allow more people to live in Palo Alto, those network effects become bigger.
Manhattan is the limiting case (at least in the US), and your scare story has not occurred. Rich people like living in NYC.
If that were true, why would people bother building so many apartments? Are investors just a bunch of idiots?
People want to live in Palo Alto because there is a cluster of a certain type of people there. If you allow more people to live in Palo Alto, those network effects become bigger.
Manhattan is the limiting case (at least in the US), and your scare story has not occurred. Rich people like living in NYC.