[amluto]

I don’t really buy this. If you build enough market-rate housing to satisfy demand, then the price of older, less nice, formerly for-the-wealthy housing stock will become considerably less expensive.

[chrisdhoover]

You can see it in the used car market. Low income folks drive around in very old Lexuses. Smart move.

[amluto]

I used to drive around in an old ‘91 Lexus LS400. It was a fantastic car. I still see that generation of LS400 on the roads :)