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gorpee t1_jd90xta wrote

Reply to comment by Pancakes4Dayzz in Toll Brothers and Harris Realty Announce Joint Venture to Develop 393-Unit Luxury Rental Community in Norwalk by jr_reddit

If it gets 200 rich people currently living in normal places to move out, that's frees up space for middle class renters.

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Luis__FIGO t1_jda26ww wrote

Isn't that a bad thing?

Replacing homeowners with people who rent the homes from someone else instead?

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CiforDayZServer t1_jda4lac wrote

They meant rich people renting normal rentals. They move to fancy pants building and therefore gave both opened up more normal apartments available, and possibly reduced demand for normal rentals enough where rent stays the same or even drops if they can’t fill it at the requested rent.

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