The constant refrain that building expensive units will free up the cheap units for the poor... 1) Where are rich people living in hovels right now? Please show me this mythical place. 2) TRICKLE DOWN ECONOMICS IS DEAD. Doesn't work and never has. In housing or anywhere else.
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1/ I live in the Portland, OR metroplex. In my experience, new and expensive units drive the poor out. People leave older, cheaper units empty to remodel them and raise the price or tear down and sell the building.
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2/ I don't have numbers for Portland or Seattle, but I know there are approximately 100,000 empty units in Los Angeles and approximately 60,000 homeless people. Clearly new construction hasn't been the answer, right
@RebeccaforWA? - Pokaż odpowiedzi
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by Glen Casebeer.