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That sounds like a housing development version of trickle down economics.
by dx87 8y ago
That 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.