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| ▲ | runako 16 hours ago | parent | next [-] |
| They're saying "thousands of new homes." If they can build that many homes for a billion dollars, that doesn't sound like its' all luxury housing. |
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| ▲ | refulgentis 16 hours ago | parent | prev | next [-] |
| I know I'm supposed to say no, but...yes I do believe it. I have a proof, too long to be contained within the margins of this page, that when supply goes up, price goes down |
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| ▲ | forgetfreeman 14 hours ago | parent [-] | | Go for it. Econ 100 textbook bs about supply and demand are trivially dismissed by a casual examination of housing and rental prices in the US in gentrified areas. What happens when the real world intrudes on academic platitudes is rather straightforward: pricing for everything goes up and the folks who were struggling get pushed out. Nobody who couldn't afford housing in the market before the shift is served. | | |
| ▲ | refulgentis 13 hours ago | parent [-] | | I'm more than open to reading anything about that! Literally anything! Most respectfully and deferentially, I don't think "more things available makes price goes down" is a platitude or textbook or academic thing! I must confess, the fact this Fat Tony logic and not some theory invented in an academic textbook ivory-tower divorced-from-reality impoverished-intellectual safe haven is why I cannot provide a proof: the note about the margin was an attempt to inject some levity, via a reference to Fermat! |
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| ▲ | nothercastle 17 hours ago | parent | prev | next [-] |
| Trump tower 2.0 London Edition? |
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| ▲ | Sabinus 16 hours ago | parent | prev [-] |
| Luxury apartments do reduce the housing shortage. Cashed up boomers can move out of the nice family home they've been living in since the kids left and upgrade/downsize. Building the high end and having people move up helps with the high cost of construction also. |
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| ▲ | mikeyouse 16 hours ago | parent [-] | | The general phenomenon is well known to those who study this kind of thing, but yep, building housing of any price helps reduce costs overall: https://en.m.wikipedia.org/wiki/Filtering_(housing) | | |
| ▲ | nothercastle 11 hours ago | parent [-] | | Depends on if people live in it or buy as an investment and leave it vacant or air bb as often happens in London | | |
| ▲ | mikeyouse 10 hours ago | parent [-] | | Not really since those people would otherwise some different existing property to do the same thing with. | | |
| ▲ | nothercastle 6 minutes ago | parent [-] | | I’m not going argue that that basic Econ does not indicate that this should help a bit with housing demand. The question is how much and is it really worth loosing a public institution for. The marginal utility for the general person of a public market seems higher than that of a couple extra housing units |
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