Re:A lot more market-rate construction helps low-income rent...
by nabla9 on Tuesday March 24, 2015 @04:57AM
(#9255488)
This is fairly obvious once you think it trough and one of the few things were majority of academic economists agree.
Houses are not build to stand empty[1]. The number of houses available and the income level determine the prices. Even if you build luxury apartments, the end result is more affordable houses available to people with low income after the chain reaction where people move up to better housing ends.
[1]: If this happens in some market conditions, raising property taxes to empty apartments works miracles.
Houses are not build to stand empty[1]. The number of houses available and the income level determine the prices. Even if you build luxury apartments, the end result is more affordable houses available to people with low income after the chain reaction where people move up to better housing ends.
[1]: If this happens in some market conditions, raising property taxes to empty apartments works miracles.