Why do the super-rich treat affordable housing in the Bronx as a lucrative asset class?
Because there is no such thing as affordable housing without affordable land and the Bronx is not where I would look for it…
Recapture the value of the land through a ground rent or land value tax and you break the cycle of gentrification and people made homeless through unaffordable housing. Or just continue to allow the few to exploit the needs of the many — to have a safe place to live — and wonder why nothing changes.