4 ms·
It isn't that simple, NYC is a good example. If you build a lot of new condos often that area gets gentrified and prices go up.
by rr808 3y ago
It isn't that simple, NYC is a good example. If you build a lot of new condos often that area gets gentrified and prices go up.
- MajimasEyepatch 3y agoThis has been studied, and the research doesn't seem to support this view. Here's a good review of the recent research that finds that increasing housing supply slows rent growth and in some cases even causes rents to fall and that gentrification doesn't cause significant displacement of low-income households. [1] [1] https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4629628 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4629628 (You have to make a free account, annoyingly, but you don't have to pay anything to access the paper.)