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by JumpCrisscross
2923 days ago
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"Stronger role for councils" reminds me of New York's community boards. The latter are churches of NIMBYism. (They also advocate for subsidized housing. But in other neighborhoods.) London's solution is the same as Manhattan's: build more. Case in point: my Flatiron neighborhood. Our building is upper-middle income, except for a few higher-end flats. Let's call the average rent $3,000. Luxury building opens; prices at $5,000. Not enough biters. $4,000. Highest-priced tenants in my building moved. Our building had to drop rents to (a) attract replacement tenants and (b) compete with the luxury building, which now wicks off the highest-earning renters. |
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