> You could make more difference for "regular" folks if e.g. you added mixed-income restrictions on the new property, but by default the market doesn't work that way.
Research [1] shows that these types of restrictions lead to the exact opposite: A shrinking supply of affordable housing and rapidly rising property prices.
+100000 - New York and Federal government fails to address the massive difference of income value between places. An annual income of 50k in Houston is equal to 100k in NYC... That also leads to lower middle class being subsidized heavily by the rest of the middle class. Which leads me to the ultimately retarded 80/20 rule in "affordable" housing in NYC.
Who pays the difference between that $1200 600ft2 apartment occupied by a single New York "artist" and the market price of the rent for the same apartment occupied by a working family of two?
That middle class in NYC needs 2x more money to have as much as middle class in Houston...
Research [1] shows that these types of restrictions lead to the exact opposite: A shrinking supply of affordable housing and rapidly rising property prices.
[1] http://smartgrowth.umd.edu/assets/documents/research/knaapbe...