3 ms·
We would have to calculate the rate of influx vs construction. There are places where there is a lot of construction but the new construction still isn't enoug
by hdlothia 3y ago
We would have to calculate the rate of influx vs construction. There are places where there is a lot of construction but the new construction still isn't enough to keep up with demand so instead of reducing prices it just slows down the increase. In your example I would guess if that high-end housing hadn't been built the increases would have been steeper and the new arrivals would be displacing the people in lower cost housing
- JohnFen 3y agoYes, I understand the theory. But after decades of watching this stuff, the topic kind of falls into "what am I going to believe, the theory or my lying eyes?" territory. If I saw this effect actually happen over the long term, I'd be less suspicious of it. As it is, I'm very suspicious about it. I'm not saying I think it's not true, I'm saying that I haven't seen any indication that it is.