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>Dealing with those kinds of legal impediments to construction, it only makes sense to build higher profit luxury housing, and since there is a lack of housing
by aninhumer 10y ago
>Dealing with those kinds of legal impediments to construction, it only makes sense to build higher profit luxury housing, and since there is a lack of housing the market can bear it.
I think this causation is slightly backwards. The price will be high regardless because of the limited supply, so they build luxury apartments to best appeal to the people who can afford those prices.
- aorloff 10y agoOr maybe its more accurate to say, the prices will be high so the appropriate label will be "luxury." I'm seeing "luxury" 2-bedrooms going up in the Bay Area with linoleum bathroom flooring. "Luxury" is all in the eye of the beholder.
- hx87 10y agoSupply would be /less/ limited if it were less difficult to get a project approved, so you'd see more non-luxury apartments.