>>512611974
>build more units
>units get bought up by private equity to immediately make back their investment
>Prices go up in the surrounding area due to “improvements” being made despite the actual economy not getting better
>wealth is extracted from new tenants to go to the property manager who lives in a big city far away instead of that money being circulated in the local community. Community gets poorer as a result while the tenants are usually imported transplants who gentrify and increase the cost of living of the surrounding area while not bringing much more jobs.
Seen it happen a million times