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by mtbcoder
3451 days ago
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More desirable areas means more areas for developers to build housing. Cities cannot do more with a citizenry that is unable to keep the local economy and government institutions afloat. These cities are in a horrendous feedback loop that is seeing their economies and tax bases decimated. It all begins and ends with income inequality. |
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Wat? That is literally the opposite of reality.
The problem is cities are TOO POPULAR. Cities so successful that only the rich can afford to live in them! Increased property values, more property tax revenue, higher resident earnings and spendings. Cities aren't being decimated. Cities are so economically successful that poor people are being forced out so more rich people can move in!
The article, titled "The Middle Class Can't Afford to Live in Cities Anymore" is about people earning $50,000 to $125,000 who can't afford housing in cities. It's not about rural or rust belt communities with no jobs. Housing is plenty cheap in those areas. They just lack the jobs to go with it. A very real but very different problem.