The housing crisis, since it’s essentially destroying many sources of culture. Not sure that can really be blamed on elites, but have a vague feeling that decision-makers are asleep at the wheel in the sense of not realizing that current polices are beginning to kill cities.
But that was kind of an impulsive comment for me to make. More broadly there may be a structural pendulum shift going on where cities will have to have a bubble and then crash and fail before they can become viable for creative people again.
But gentrification increases overall housing supply even if it displaced artists 🤔
I’m all for art but not if it means preserving picturesque low-density slums
Unfortunately, new luxury supply can paradoxically increase pressure on local housing. The new elites demand service workers that the transportation networks in major cities are unable to supply.