Just take a look at the housing market in any city with high demand, you won't see very much delta for a given size unit. In LA, the shittiest 1 bedroom apartment with cigarette burns in the carpet and a view of the freeway is only maybe 10% cheaper than new construction. Engineers working for Google in playa del ray are directly competing for the same housing stock as low income custodians at Google who fit an entire family or three in a one bedroom in Palms.
However, if you build an apartment with pretty colors and a pool and grill and some artificial grass for your dog to poop on, that engineer working for google in that cigarette stained apartment in palms might just stomach the premium on rent for a better place, and that slumlord with the cigarette stained apartments might have a little bit more trouble finding tenants at top of market rent rates.
However, if you build an apartment with pretty colors and a pool and grill and some artificial grass for your dog to poop on, that engineer working for google in that cigarette stained apartment in palms might just stomach the premium on rent for a better place, and that slumlord with the cigarette stained apartments might have a little bit more trouble finding tenants at top of market rent rates.