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Note 1: This is interestingly isomorphic to the immigration debate. I'm not taking sides on this point, I just find the parallels interesting. Note 2: Thousan
by lallysingh 9y ago
Note 1: This is interestingly isomorphic to the immigration debate. I'm not taking sides on this point, I just find the parallels interesting.
Note 2: Thousands of highly paid employees will cause real estate prices to rise, certainly. But they'll spend on more than just real estate, so the economy as a whole will grow with a lot of incoming money to be spent. As these incoming people are already working for 1 company, their demand for products/services will fall onto the local economy. Which is good for existing residents who participate in that economy. It'll also be good for anyone else who lives (after surviving applicable rent hikes) in the same districts, as the influx of tax money will help local schools, law enforcement, libraries, etc.
- hueving 9y agoI think you're overestimating how much money will pour into the pockets of renting middle class people. You only need to look to Mountain View and Sunnyvale to see how all people making less than 6 figures have either been pushed into a trailer park, pushed into a roommate situation, or pushed out entirely. A bunch of rich people showing up does not really help most people.
- marnett 9y agoYour second note about products/services falling into the local economy is probably not all too true. A bunch of googlers will not support the local coop grocery store, but instead continue using amazon fresh/blue apron, etc. Not to mention the boutique stores they want to shop at probably don't exist yet (depending on the city).