Alain Bertaud on Urban Planning and Cities
The Great Antidote
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Cities: Generational Wealth Transfer
Cities become conservative due to the perception of working well, resisting change and misunderstanding the nature of a city.
- Emotional resistance to density: Vancouver residents resist zoning changes, fearing it would resemble Hong Kong, despite lacking the demand.
- Discrimination shifts: The economic discrimination in housing is not against migrants but between generations.
- Wealth transfer: Older generations who bought houses when they were affordable are effectively closing the door behind them.
- Demographic shift: Younger, educated people are priced out, moving to smaller cities with less opportunity but affordable housing, leading to an aging workforce in major cities.
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