3 ms·

Well, it is the case that any improvement in your neighborhood gets absorbed by landlords. https://en.wikipedia.org/wiki/Henry_George_theorem?wprov=sfti1 https

• el_nahual 4y ago
  The paper has evidence to the contrary: "I show that new high-rises attract new restaurants, which is consistent with the hypothesis about amenity effects. However, I find that the supply effect is larger, causing net reductions in the rents and sales prices of nearby residential properties. "
  • ethanbond 4y ago
    Not really to the contrary. It’s possible for the aggregate rent to go up, the rent rate to go down (higher numerator over an even more-increased denominator), and the overall increased rent “cash flow” to still go to landlords.