The author’s main point seems to be that in a market dominated by landlords in which rents are rising, cities do not have an incentive to improve public services as any improvement in their quality will only benefit landlords through further increases in housing prices.
Am I missing something, or wouldn’t higher tax revenues from growing property values easily offset this issue in such a scenario?
Am I missing something, or wouldn’t higher tax revenues from growing property values easily offset this issue in such a scenario?