Quote:
Originally Posted by homebucket
I would say it contributes to it (demand), but it's not the main cause of it. The primary cause is NIMBYism and lack of sufficient supply.
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Tech in a way can be seen as fuel that magnifies existing city gaps. To your point, lack of sufficient supply and NIMBYs.
Any sort of impact to the price homeostasis of "X" region is going to naturally result in some impact to the "average" percentile of residents. Will really impact the bottom 10 percent. This can lead to issues long term.
I think the biggest effect, and this is more because of the compensation ranges offered by tech, on average, is the gated-community effect that tends to transpire in cities where tech has a big BIG hold in. This will overtime hurt a city if a city is to be considered a "people" city or a "common man and woman" city. Long term prosperity, really due to prices and cost of living, will see a decline. For the general masses.
It can be reversed but considering the mode of operation for our cities, ones that always fall behind on projected or current demand, will squeeze the average person even further and this is dangerous long term.