3 ms·
Won't make any difference at all? Or won't make enough of a difference for you to care about (or to support) it? To the extent that someone in a less expensive
by sokoloff 3y ago
Won't make any difference at all? Or won't make enough of a difference for you to care about (or to support) it?
To the extent that someone in a less expensive form of housing vacates it to take newly built luxury housing, it seems like the marginal effect from that luxury unit existing is to increase the supply of total housing and of more moderately priced housing by exactly one unit.
(To the extent that new luxury housing exclusively attracts outsiders to migrate into the city who otherwise wouldn't, it doesn't help. I doubt that this exclusivity holds.)