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Because that investment and modernization drives out the less fortunate onto the streets. Nobody is investing in affordable housing, it's all luxury apartments
by delfinom 7y ago
Because that investment and modernization drives out the less fortunate onto the streets. Nobody is investing in affordable housing, it's all luxury apartments to sell to foreign buyers and maybe that one kid who made a few million selling his startup. Then they dress up the surronding area to pump their investment's value.
- javagram 7y agoEven on luxury housing the profit margin isn’t great. It isn’t really possible to “invest” in affordable housing without significant government subsidies. After all the difference between a normal apartment building and a luxury one is what? Hiring a concierge and buying a brushed metal fridge for the apartments instead of a white one? It doesn’t actually cost much different.
- DuskStar 7y ago> Nobody is investing in affordable housing, it's all luxury apartments Please, tell me of a city in the US that's built affordable housing within the past 50 years - not luxury housing that got old and thus cheap, and not luxury housing that gets subsidized by the city.
- bradleyjg 7y agoStreet homelessness in US cities by and large isn’t about affordability, it’s about the inability and/or unwillingness to either cure or isolate the profoundly mentally ill or addicts that make up the vast majority of persistent street homeless. Homelessness in the broader sense which includes people sleeping on couches or in shelters is much more linked to affordability. Unfortunately there’s not great vocabulary to distinguish among rather distinct issues.