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@nickyp
If all the new places being built are high end, and the vacancy rate on them is very low, than what does that say. It means there's enough people with enough money to occupy them. Just building more isn't going to do anything to about that. You would have to build more really crappy units that nobody in their right mind would pay the inflated prices for, no matter how close it is to the metro. Then the people with money would go elsewhere, leaving those units affordable.

This seems to be the important part of what you said. Building more will do something about it, it will mean the people with money will move into the new apartments and won't be competing for the old stuff. If you have 50 people with lots of income who are willing to pay the upscale price to be near Metro, but only 25 units like that, then the other 25 people will find something older (not as nice and cheaper) to rent and push lower-incomes out. But if you build 25 more high-end units, then those high-income people will just pay for those.

I think you also have to build/provide for some subsidized units to maintain some income diversity. But that might be better solved with housing subsidies people can use to rent rather than condos people can buy at lower prices.

by MLD on Jan 28, 2013 1:49 pm • linkreport

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