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The trickle-down is that very often (and I'm not referring here to this article, but more broadly) the new housing being discussed is not for low-income. It's
by khazhoux 4y ago
The trickle-down is that very often (and I'm not referring here to this article, but more broadly) the new housing being discussed is not for low-income. It's for the highest-tier, with the idea that when the richest have more housing options, that makes room for the slightly-less rich, then the just-kinda rich, then the very well off... and eventually this trickles down to there being affordable housing for the homeless. Trickle-down.
- neilparikh 4y agoThe misconception you have here is that the cost of the housing is driven by how "high tier" it is. It's not, it's driven by land costs. That's why even a fairly old plain apartment in SF is still very expensive to rent, and houses that are completely ordinary in Silicon Valley are millions to buy. As an example, would you consider this $1.5M house "high tier"? https://www.zillow.com/homedetails/879-San-Ardo-Way-Mountain-View-CA-94043/19513080_zpid/ https://www.zillow.com/homedetails/879-San-Ardo-Way-Mountain... There's not really a way to make low cost housing beyond either high supply, or subsidization.