⟳ Репост от chowda
The idea that the wealthy, the middle class, and the poor are all in completely separate housing markets with no overlap ignores how things work in the real world. In the absence of new high end housing, wealthy people outbid the middle class for the best available existing housing and renovate it.
Barbara SamuelsNew MR housing flattens or marginally lowers cost of housing for people in mainstream market, i.e mid-class & some working class people. Which is good. But we shouldnt pretend it meaningfully helps the poor or homeless. They are not competing in the same mainstream market w/ rich or even mid-class.