4 ms·
Luxury apartments do reduce the housing shortage. Cashed up boomers can move out of the nice family home they've been living in since the kids left and upgrade/
by Sabinus 2y ago
Luxury apartments do reduce the housing shortage. Cashed up boomers can move out of the nice family home they've been living in since the kids left and upgrade/downsize.
Building the high end and having people move up helps with the high cost of construction also.
- mikeyouse 2y agoThe general phenomenon is well known to those who study this kind of thing, but yep, building housing of any price helps reduce costs overall: https://en.m.wikipedia.org/wiki/Filtering_(housing) https://en.m.wikipedia.org/wiki/Filtering_(housing)
- nothercastle 2y agoDepends on if people live in it or buy as an investment and leave it vacant or air bb as often happens in London
- mikeyouse 2y agoNot really since those people would otherwise some different existing property to do the same thing with.
- nothercastle 2y agoI’m not going argue that that basic Econ does not indicate that this should help a bit with housing demand. The question is how much and is it really worth loosing a public institution for. The marginal utility for the general person of a public market seems higher than that of a couple extra housing units