It’s funny that everyone seems to understand the scarcity version of filtering, aka gentrification - a person who has enough money for a “mid market” home but can’t find one to buy will buy an entry level home and remodel or rebuild it into a mid market home. And yet many people deny the reverse phenomenon, that having more upper and mid market housing allows people to move up which creates more supply of entry level homes. Sigh.
It’s funny that everyone seems to understand the scarcity version of filtering, aka gentrification - a person who has enough money for a “mid market” home but can’t find one to buy will buy an entry level home and remodel or rebuild it into a mid market home. And yet many people deny the reverse phenomenon, that having more upper and mid market housing allows people to move up which creates more supply of entry level homes. Sigh.