Low Income Housing

Gary Becker, Nobel Laureate in economics, writes:

Let me respond to the important question of how can we reduce gentrification that replaces lower income housing by middle and upper income housing. I believe in allowing supply and demand in the housing market to determine land use. Unfortunately, the balance is frequently artificially tilted in favor of gentrification by the use of eminent domain to take land away from housing low income families, and by giving tax breaks to developers who use property for gentrification purposes.

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