3 ms·
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. Howe
by 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 agoNot 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.