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Mo-Cuishle t1_itpub7q wrote

Reply to comment by BannedMyName in Wages up in CO since pay transparency passed. Anything on the horizon in Mass? by bostexa

Luxury apartments are fine, pressure is still taken off existing housing. The only thing that matters is density.

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Elementium t1_itpwmm0 wrote

Haha bullshit. I can talk of my town for instance.. Sturbridge is becoming a weird Frankenstein's monster of Luxury apartments going up (who the fuck would pay 2k+ a month to live in sturbridge) and the old poorer townies who they're trying to push out.

And these aren't even going up in the good part of town. Normal people still need a place to live and pushing them out of a normally affordable place to make investment properties isn't going to help.

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Mo-Cuishle t1_itpyizs wrote

You can't make rich people be poorer. If they want to live somewhere they will. Either they're going to out-bid the places that the townies live in now or they'll rent the nice new luxury places. Only in one situation do you have more total housing per sqft and less pressure on the housing market.

It's a studied fact that any kind of densified housing reduces overall rent prices in an area.

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FitzwilliamTDarcy t1_itq18d0 wrote

It’s amazing how people get so hung up on the term luxury condos/apartments. It’s still supply plain and simple as every single study indicates.

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