3 ms·
You're right. To disambiguate, I was saying the pragmatic/economic effect "dominates", which economists use to imply being stronger, not even necessarily by muc
by djhn 11y ago
You're right. To disambiguate, I was saying the pragmatic/economic effect "dominates", which economists use to imply being stronger, not even necessarily by much, but enough to override culture at the margin.
> all of these factors are core to what attracts significantly large groups of people to cities
And these things can change. Or more precisely, technological or social shifts may change these preferences drastically, which is why real estate and land ownership in general has a black-swan style long-tail risk, which is seldom mentioned.
Primary draws of the city may become weaker with better technology. And we might find [more striking and concrete evidence for] significant drawbacks, especially in term of health effects.
- ghaff 11y agoAnd certainly there are examples of individual cities that have become less desirable over time (e.g. much of Detroit)--as well as periods when there was net flight (at least among certain income groups) from many cities generally in the US.