NEW YORK: The ninety-third entry for the seniors housing Global Awards 2016 has been received.
Conventional wisdom says that when new luxury communities are built, it hurts poor residents by displacing them.
But a new report shows that data from the California Legislative Analyst’s Office could dispel the theory that new luxury housing forces those with lower incomes to move.
The report concludes that boosting private construction would do more to broadly help poor households than expanding small and costly affordable housing programs that can serve only a fraction of them. Those programs also don’t resolve the underlying cause of high rents — the housing shortage itself…
