Yeah I think that "trickle-down" with regard to individual income taxes is different than the "trickle-down" of asset-prices due to depreciation and increased s

Yeah I think that "trickle-down" with regard to individual income taxes is different than the "trickle-down" of asset-prices due to depreciation and increased supply. I don't think the author's car comparison is apt here. Cars are not stationary assets. I can have a Denali in suburbia and and Denali in midtown and it's still a Denali. However, a flat above retail in suburbia is probably not at all the same as a flat above retail in midtown. I agree that the over arching law of supply and demand is still at play. But if I go look anywhere in my city center at prime locations with nice housing built 30 years ago, I don't see that being anywhere near affordable for lower or even middle income families.