This is not true. Building all types of housing increases the supply of affordable housing.
Build a new luxury apartment, and someone moves from a mid tier apartment into it, and someone moves from an affordable apartment into that, and so on.
Price is a function of constrained supply. The type of supply is not important to increase the numbers.
Comments
This is not true. Building all types of housing increases the supply of affordable housing.
Build a new luxury apartment, and someone moves from a mid tier apartment into it, and someone moves from an affordable apartment into that, and so on.
Price is a function of constrained supply. The type of supply is not important to increase the numbers.