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David Alpert: And I should add that I don't think you're really relying on standard economics when you ask if it matters "if the demand it satisfies is at the top or bottom of the curve." Those restricted, cut-rate units in a building at Gallery Place aren't satisfying any of the demand for market-rate units at Gallery Place. They're satisfying a small amount of demand for pricey units at below-market-rate prices (and only a slight portion, necessitating a lottery), but they aren't fulfilling the demands of any of the thousands of people looking for housing outside of government programs.

Effectively, there is a market for these "affordable" units operating completely independently of the market for housing for everyone else.

by Gray on Jun 19, 2012 2:16 pm • link • report

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