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by rangestransform
706 days ago
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Luxury flats absorb demand that would otherwise outcompete locals for the existing housing Unless you make all existing housing so shitty that local professionals would turn their nose up at it, in which case you have bigger problems Not building luxury housing at all would only be a solution with domestic mobility restrictions like China |
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no it doesn't
that would only happen if the demand is based on people who want to move there
but if it is based on interest/dynamics more similar to stock markets like we currently have then there isn't a physical limit on (artificial) demand as such local housing gets bought up first (to potentially be upgraded to luxury flats) and then they still build more luxury flats