It's worth noting that most housing developers need to be prompted and incentivized pretty aggressively to build affordable housing in high-value areas even when they're allowed by law to do so.
Usually what happens is they raise or borrow a bunch of money to build much higher margin housing (e.g. hip condos instead of affordable apartments) until the market is saturated with still more unaffordable housing.
Without explicit incentive structures or requirements like, "You must build X number of affordable units for every Y number of luxury units." things tend to stay pretty broken.
Usually what happens is they raise or borrow a bunch of money to build much higher margin housing (e.g. hip condos instead of affordable apartments) until the market is saturated with still more unaffordable housing.
Without explicit incentive structures or requirements like, "You must build X number of affordable units for every Y number of luxury units." things tend to stay pretty broken.