
Architect explains why new LA housing is aimed at “luxury” buyers - dalfonso
https://www.reddit.com/r/LosAngeles/comments/6lvwh4/im_an_architect_in_la_specializing_in_multifamily/
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ams6110
The thing is, as new luxury housing is built, existing housing becomes
cheaper. Eventually the older developments become "affordable" because all the
wealthy buyers want the trendy new places. There are some exceptions e.g.
gentrification but that tends to happen only in areas with good location, and
architecturally interesting but run-down structures. Most developments are not
that. They just get cheaper as they get older.

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timbo1642
Actually you're completely wrong. It doesn't make anything cheaper at all.
There is absolutely no shortage and there are more than enough people to
occupy the older buildings. Its very rare from someone to go from an old
building to a new one, it usually costs MUCH more. A 1 bedroom in brentwood is
about $2000 a month in an old building, in a new building expect to pay 50%+
more. AT LEAST.

