Saying there isn't a difference between luxury housing and middle class affordable housing is saying a mansion is the same as a studio apartment. Why do developers build micro units geared towards people with income under 75k? Why developers build different size houses if they are all the same? I'm sure wealthy families, if no luxury houses are available and the only thing available is an apartment in the projects, would rent it, since housing is housing.
If you can't recognize that there are different types of housing, then I bet you think a Maserati is no different than a Toyota Camry and in that case, theres no point to debate with you.
Then how do you explain old 2-3 multi-unit houses that used to house section 8 tenants across the city in Cambridge, somerville, malden, everett, Charlestown, Medford, Jamaica plain, Chelsea originally built for low income families now costs millions of dollars to purchase ?
what’s the difference there? Those multi units now are considered luxury But they used to be considered low income housing. So which is it luxury or low income housing? It’s like the car manufacturer bought an old Subaru and cleaned it up and sold it for a Ferrari price? So this explains your comment up above concerning the difference between the camry vs Maserati. It was always a supply issue which did not get addressed till too late. There are people buying the camrys cleaned up paying the Maserati prices because of the supply issue. The multi-units are the camrys.
its called supply and demand in housing.
factor in low interest rates (which the poor nor middle class never prospered from)
universities buying binge- which ate up the supply
surge In population growth/especially the target of rich international elite to purchase the Luxury condos in the city.
cities/towns tight zoning and regulations process Which creates risk to develop housing.
its tough to debate somebody who doesn’t understand the logistics, history, politics, along with market forces that has created such a massive income inequality situation around the so called blue collared city of Boston.