3 ms·

This one really confused me: "Rarely are these goods and services truly accessible and affordable." What do goods/services aimed at wealthier segments of the p

This one really confused me: "Rarely are these goods and services truly accessible and affordable." What do goods/services aimed at wealthier segments of the population have to do with accessibility and affordability? I presently cannot afford a Ferrari, should I be up in arms about the lack of affordability/accessibility to the said Ferrari? If we are talking housing, one could make a case for the need for affordability/some form of social protection. Although, I'm not entirely sold that people have a "right" to live in a prestigious neighborhood that they cannot afford, but when an entire city gets priced out, it's much easier to argue.

kevingadd 13y ago
High price goods and services push low price goods and services out of the market in a place like SF where space is at a premium and the rich might otherwise patronize lower-cost establishments. If a place that charges $10 for high-tech tacos moves in next door, the place that sells $1 adequate quality tacos is going to get less business from the techie crowd and as a result may not actually bring in enough revenue to stay open for the people who can't afford $10 tacos. I've heard similar thoughts from people running mid-tier restaurants in Palo Alto.
- sologoub 13y ago
  Ok, the economics may make sense... but I fail to see how it is a "duty" to effectively subsidize these more affordable establishments. If you choose to spend you hard-earned money in a way that I don't approve... well, it's your money.
- colmvp 13y ago
  Absolutely, but isn't that a problem that all major cities have? My favorite Asian restaurants in NYC aren't in Chinatown Manhattan but Queens, specifically because of the extremely affordable rents that allow specific businesses with cheap food to survive.
- seanmcdirmid 13y ago
  And yet palo alto supports plenty of low tier and mid tier restaurants. Even Stanford college students aren't rich.

kevingadd 13y ago

High price goods and services push low price goods and services out of the market in a place like SF where space is at a premium and the rich might otherwise patronize lower-cost establishments. If a place that charges $10 for high-tech tacos moves in next door, the place that sells $1 adequate quality tacos is going to get less business from the techie crowd and as a result may not actually bring in enough revenue to stay open for the people who can't afford $10 tacos. I've heard similar thoughts from people running mid-tier restaurants in Palo Alto.

sologoub 13y ago
Ok, the economics may make sense... but I fail to see how it is a "duty" to effectively subsidize these more affordable establishments. If you choose to spend you hard-earned money in a way that I don't approve... well, it's your money.
colmvp 13y ago
Absolutely, but isn't that a problem that all major cities have? My favorite Asian restaurants in NYC aren't in Chinatown Manhattan but Queens, specifically because of the extremely affordable rents that allow specific businesses with cheap food to survive.
seanmcdirmid 13y ago
And yet palo alto supports plenty of low tier and mid tier restaurants. Even Stanford college students aren't rich.