…building luxury condos? Luxury condo developers. They will make billions of dollars. The reality is many of these luxury units remain empty as investment properties. Vacant luxury condos don’t build community, house our residents or make our neighborhoods safer.
Why do you think they’re good investments? Because owners know that NIMBYs can pressure legislators to not build more housing in those areas, propping up the property values. Your anti-growth policies enrich already-rich homeowners and speculators alike.