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A 2023 study by economists at the W. E. Upjohn Institute for Employment Research and Federal Reserve Bank of Philadelphia found that the construction of new large apartment buildings in low-income neighborhoods lead to an influx of high-income households but also decrease rents in nearby units by increasing housing supply. [37]
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Systems like original Aspen scheme have not proliferated. However, the issue of workforce housing continues to affect non-metropolitan communities, particularly resort communities where one finds the acute effects of the triple impact of high land values, land limited by geographic features (i.e. coastline or mountains) and a prevalence of lower paying service-sector employment.
Bid rent curve. The bid rent theory is a geographical economic theory that refers to how the price and demand for real estate change as the distance from the central business district (CBD) increases.
Berkeley (/ ˈ b ɜːr k l i / BURK-lee) is a city on the eastern shore of San Francisco Bay in northern Alameda County, California, United States.It is named after the 18th-century Anglo-Irish bishop and philosopher George Berkeley.
One in twenty-five residents (4%) were unemployed, compared to 7% in Manhattan and 9% in New York City. Rent burden, or the percentage of residents who have difficulty paying their rent, is 38% in Battery Park City and Lower Manhattan, compared to the boroughwide and citywide rates of 45% and 51% respectively.
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