Comment by seanmcdirmid

Housing stock definitely goes up in those cities that have the demand. Other cities drain out as a consequence and housing is razed in the cities that are no longer popular, like Buffalo and Detroit.

Do we really want that? Of course, housing has to be maintained and has a lifespan (the Japanese are good at rebuilding housing stock after 20-30 years), and so it can simply die off in the places that are no longer popular, but it seems like a waste of infrastructure investments that then have to be re-done in the new hot places.