Quote:
Originally Posted by iheartthed
If people are being priced out then how is the city not flourishing? A not flourishing city would be one where people are not being priced out...
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I like to think long term. How can a city truly reap its potential 10...15+ years down the line if the prices will be astronomical to future residents or folks that want to move there. To say immigrants, low income folks, and people who want to make it there.
I am not a fan of the gated community nor slow downs. Higher prices and cities that become inaccessible to some is not good in the long run. Plus, for some areas, it only makes folks want to leave. Not good for the local municipality.
I think it comes down to what kind of vision you are seeking. In the acute moment, yes, it can flourish but down the line, if all we are seeing are prices rising and not stabilizing, unless wages magically go up to the point where some places become affordable, it starts to become a boon.
We tend to see this... high priced cities... than folks move to lower cost cities... than those become unaffordable and the cycle continues but at some point, we will run out of affordable cities and its only detrimental from there.
Housing is the key reason why our cities are not flourishing to their true potential.
I'd much rather see a bulk of the growth within the core cities versus the inner ring suburbs or even fringes, but we tend to see that the suburbs grow much more rapidly and that is due to lower cost housing. What this does is limit what our cities truly could be. Results in a lower tax potential for our cities and thus, less future upgrades.