So a developer working with the government and getting incentives builds a nice neighborhood of homes that people can afford. People in the target income group buy the houses. All good. But when housing prices spike, what keeps the houses in the hands of the targeted economic group. When owner goes to sell, won’t the market dictate what happens, opening up the neighborhood to what has been referred to as gentrification?
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“Affordable” is the key word, and the key is that it’s a meaningless weasel word unless it’s tied to some other metric like average earnings in the surrounding area. Every home in Beverly Hills is affordable as long as the tenants are paid up on rent/mortgage
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