"Luxury" in housing is a pricepoint, not a level of amenities. In most cases, the prices were going to rise anyways because it is the area is desirable. If buil

"Luxury" in housing is a pricepoint, not a level of amenities. In most cases, the prices were going to rise anyways because it is the area is desirable. If building a "luxury" unit would raise property values, Detroit would have had a solution to their woes long ago. The solution to expensive housing isn't to prevent development, but to allow for denser development. When given the choice between low-rise and mid-rise, developers will tend to chose mid-rise, as it allows them more money on the same lot size. More supply can bring down prices. Even renters who can't afford the newer more expensive unit benefit, because the folks who move into the new units must vacate their unit first [1]. [1] https://research.upjohn.org/cgi/viewcontent.cgi?article=1325&context=up_workingpapers https://research.upjohn.org/cgi/viewcontent.cgi?article=1325...