gentrification: demolish and/or renovate existing structures so people can move in and pay $2500 to $6000 per month for studio to two bedroom apartments. This forces the native element of "I've lived here my whole life" to move elsewhere typically against their will.
über-gentrification: All $2500/month studios are now billed out at $150/night and all $6000 two bedrooms are now billed out at $300/night. The rich jerks who gentrified the native population now can't afford to live there because their next lease re-up will take into account the surplus not being captured by the landlord, so all studios will be $4500/month and all two bedrooms will be $9000/month.
So the professionals move to... Idaho?
What happens if we let the vacation market out price professionals from living close to work? What happens when we let professionals out price service workers from living close to work?
Self driving megabus cars. Three deckers.
When are we going to get self driving busses and limos?
Presumably what happens is that selling housing becomes so insanely lucrative developers throw up massive amounts of new places to live, solving the housing issue through added supply.
If the city is prohibiting that construction from happening, perhaps that's where you should point the finger rather than the people buying and selling at market prices.
Comments
Is it like über-gentrification?
gentrification: demolish and/or renovate existing structures so people can move in and pay $2500 to $6000 per month for studio to two bedroom apartments. This forces the native element of "I've lived here my whole life" to move elsewhere typically against their will.
über-gentrification: All $2500/month studios are now billed out at $150/night and all $6000 two bedrooms are now billed out at $300/night. The rich jerks who gentrified the native population now can't afford to live there because their next lease re-up will take into account the surplus not being captured by the landlord, so all studios will be $4500/month and all two bedrooms will be $9000/month.
So the professionals move to... Idaho?
What happens if we let the vacation market out price professionals from living close to work? What happens when we let professionals out price service workers from living close to work?
Self driving megabus cars. Three deckers.
When are we going to get self driving busses and limos?
This is pretty spot on: http://www.theonion.com/articles/report-nations-gentrified-n...
Presumably what happens is that selling housing becomes so insanely lucrative developers throw up massive amounts of new places to live, solving the housing issue through added supply.
If the city is prohibiting that construction from happening, perhaps that's where you should point the finger rather than the people buying and selling at market prices.