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There was an article (I believe on Noahpinion?) a while ago about how they don’t need to build cheap housing, if they built enough expensive housing to soak up
by ksdale 8y ago
There was an article (I believe on Noahpinion?) a while ago about how they don’t need to build cheap housing, if they built enough expensive housing to soak up all the tech workers, the price of everything else would drop enough that poor people would have plenty of places to live.
I don’t know if that would work, but it’s a theory...
- dx87 8y agoThat sounds like a housing development version of trickle down economics.
- Kronopath 8y agoIt really isn’t. It comes down to the fact that if you’re a high-paid tech worker you can outbid basically anyone else for your rent. If an area doesn’t build housing for tech workers and other such high-paid young people, you force them into the existing apartments, forcing out anyone who was living there previously. It’s less “trickle down economics” and more “build housing for me or I will outbid you for your own apartment”.
- erik_seaberg 8y agoAs patio11 put it "If you stop building housing, you’re deciding someone doesn’t get to live there; market just tells you their names."
- closeparen 8y agoTrickle down is a theory about tax rates, wages, jobs. “Supply and demand determine housing prices” is not that.