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If people can't afford $1m apartments then developers will build cheaper ones if they can make the numbers work.
by slyall 3y ago
If people can't afford $1m apartments then developers will build cheaper ones if they can make the numbers work.
- ethbr1 3y agoOr, they build nothing and allocate capital to a different city where luxury apartments are still selling.
- slyall 3y agoIn which case another developer will build them. Assuming the numbers make sense. Either way refusing to allow apartments to be built because you fear they will be "luxury" is dumb. It just means that the only people who get to live there are the really rich who can afford a full-sized house.