No they purchase the land build a very nice apartments and rent them out to upper middle class young people. But yesterday's upper middle class apartment compl

No they purchase the land build a very nice apartments and rent them out to upper middle class young people. But yesterday's upper middle class apartment complex plex is today's middle class complex, and tomorrow's affordable complex. Also the well off people who live in the nice complex arent bidding up the prices of old multifamilies as much because of more housing stock.