3 ms·
This is a naive take. Building luxury condos has definitely caused prices to drop, it's just that the effect of increased demand increased prices by more. Witho
by colinmhayes 7y ago
This is a naive take. Building luxury condos has definitely caused prices to drop, it's just that the effect of increased demand increased prices by more. Without the supply increase housing would be even more expensive.
- sudosysgen 7y agoI honestly don't believe this is the case. There is no empirical reason to believe it is the case, and there is research that suggests that it isn't the case [0] [0] : http://econ.geo.uu.nl/peeg/peeg1914.pdf http://econ.geo.uu.nl/peeg/peeg1914.pdf
- aljg 7y ago>>> "no empirical reason to believe it is the case." It takes chutzpah to assert a negative. But I appreciate that you honestly don't believe it. Perhaps this will cause you to update your priors? [0]: https://research.upjohn.org/cgi/viewcontent.cgi?article=1325&context=up_workingpapers https://research.upjohn.org/cgi/viewcontent.cgi?article=1325...