If I understand correctly it is possible to find $300/mo/bedroom accommodation in rural US today, and a large enough city will compress city rents down to rural rents. A govt willing to pursue a plan as interesting as this one may also be able to increase immigrant labour to build the houses and relax housing regulations. US residential rents are artificially high compared to global average. (In some parts of the world, a few steel sheets (4 walls + roof) is sufficient to count as a house, even water and sewage piping in every house is not mandatory as long as residents can access toilets and water supply within walking distance.)
(A gigacity could also increase rents because it’ll increase the incomes of even its lowest income members. But yeah in general now you need to track median incomes of 1B people to find out new equilibrium.)
If I understand correctly it is possible to find $300/mo/bedroom accommodation in rural US today, and a large enough city will compress city rents down to rural rents. A govt willing to pursue a plan as interesting as this one may also be able to increase immigrant labour to build the houses and relax housing regulations. US residential rents are artificially high compared to global average. (In some parts of the world, a few steel sheets (4 walls + roof) is sufficient to count as a house, even water and sewage piping in every house is not mandatory as long as residents can access toilets and water supply within walking distance.)
(A gigacity could also increase rents because it’ll increase the incomes of even its lowest income members. But yeah in general now you need to track median incomes of 1B people to find out new equilibrium.)