Hypothesis: The problem with only building luxury housing is that it's better by accounting rules to leave it empty, than to rent it out at non-luxury prices. I have some anecdata but not enough to draw a conclusion. /cc @WatsonLadd @kimmaicutler
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Maybe you should read this book, which I haven’t read but I have a good sense of the authors orientationshttps://twitter.com/danielkayhertz/status/965413936001675264 …
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The British are better at explaining this than Americans are because they ran into land scarcity issues a bit longer ago than we did.
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