I would almost guarantee that the amount of people leaving affordable housing to luxury housing is a completely negligible percentage, like <1% of home buyers. Prove me wrong, I guess, but your argument that building more luxury housing somehow benefits the middle and poor classes just reeks of nonsensical bullshit, sorry.
But housing is something like a game of musical chairs. If Alice moves into a luxury unit, that leaves their old unit open. Bob then moves into Alice’s old unit, Charlotte moves into Bob’s old unit, Dave moves into Charlotte’s old unit, etc. until Zoey moves into Xanders old unit.
The question isn’t ‘how likely is Alice’s old unit to be affordable?’, it’s ‘how likely is it that Zoey’s old unit is affordable?’
I would almost guarantee that the amount of people leaving affordable housing to luxury housing is a completely negligible percentage, like <1% of home buyers. Prove me wrong, I guess, but your argument that building more luxury housing somehow benefits the middle and poor classes just reeks of nonsensical bullshit, sorry.
Directly? Obviously, that’s pretty rare.
But housing is something like a game of musical chairs. If Alice moves into a luxury unit, that leaves their old unit open. Bob then moves into Alice’s old unit, Charlotte moves into Bob’s old unit, Dave moves into Charlotte’s old unit, etc. until Zoey moves into Xanders old unit.
The question isn’t ‘how likely is Alice’s old unit to be affordable?’, it’s ‘how likely is it that Zoey’s old unit is affordable?’