|
|
|
|
|
by spothedog1
1704 days ago
|
|
If the demand exists to build high rises then those people would already be pushed out at an ever faster rate. If you take a plot of land that previously had 4 units on it and turn it into a high rise with 100 units, then you can fit 96 higher income people onto that plot of land. In the scenario where you don't build that high rise, those 96 higher income people simply go into the existing housing stock and push those people out anyway. You can think of a high rise as a sponge soaking up demand. In our hypothetical with the high rise, the existing neighborhood's housing stock is in less demand (and cheaper) because all the wealthier people moved into the high rise. |
|
If they can push people out of houses regardless, theyre still going to go for the houses.
It'd be better to redirect demand elsewhere, so the wealthy people can build their own infrastructure and community rather than co-opting an existing one