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Real estate, on the other hand seems like a classic example of a case where the concentration of wealth really can make poor people poorer, by crowding them out
by wanorris 15y ago
Real estate, on the other hand seems like a classic example of a case where the concentration of wealth really can make poor people poorer, by crowding them out of more and more of the real estate market through gentrification.
Of course, this depends on there being an actual scarcity of land. In areas where new land can easily be developed, it's much less of an issue.
- gridspy 15y agoThere might be plenty of land, but I think there will always be more desirable land. Either it is more central - better transport, trade, jobs. Or it is near a natural resource, for instance water - which provides fresh air, views, transport. The poor benefit as much (or more) than the rich do by having access to this better land.