> city politics safeguards the value of these risky bets by homeowners
Mainly because homeowners are more engaged in the city politics? If renters or would-be homeowners were more engaged, this would have been a totally different situation.
You might be surprised to find that most renters have jobs, and can’t get away from those jobs during the day to attend neighborhood and city council meetings.
Mainly because homeowners are more engaged in the city politics? If renters or would-be homeowners were more engaged, this would have been a totally different situation.