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"What's the community benefit?" "Housing." "...But..But what does the community get?" "Housing." "Housing is a community benefit?" "..."pic.twitter.com/z5Dx6jw7v7
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Those rich people are out apt hunting. They bid up the existing housing stock. They take whatever is available.
By building market rate housing (without tearing down existing housing), we take pressure off existing residents.
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If we don't build housing, people are displaced faster. That is what we see in the data.
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In any shortage, rich people win. If you don't build pricy housing, you just make the current housing pricy.
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