![]() ![]() Think: “one rung down.” When these slightly poorer people move, their prior dwellings will tend to be taken over by those who are a further rung down. While those others probably won’t be drastically poorer than those they replace, they tend to be slightly poorer. When they move, those older units become available for others. So what do casual observers miss? They miss the big picture: People who move into new construction are moving away from older construction. Since richer people are more willing to pay the upcharge for nicer housing, the future residents of new construction are usually well-to-do. New housing is usually nice housing, because over time technology improves and capital depreciates. ![]() ![]() It’s easy to see where casual observers get this idea. One of the main problems with selling housing deregulation is the perception that new construction “only benefits the rich.” Rich developers of course, but also rich home-buyers.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |