Comment by PlunderBunny
Comment by PlunderBunny 6 hours ago
I should have prefixed my comment by saying I'm not in America. In the country I live in, population growth effectively occurs by immigration of not-poor migrants, and that growth continues to outstrip supply. Sure, if you build more high-end houses than you need, you would see the effect you describe, but it's like emptying a swimming pool with a straw.
I can’t speak to your unspecified country, but in America the effect on lower income housing occurs within three years:
https://www.sciencedirect.com/science/article/abs/pii/S00941...
The only reason we don’t see more of this effect is because zoning restricts most new construction. The straw in your analogy is zoning.