Should the government incentivize the construction of high density residential buildings?

High density housing refers to housing developments with a higher population density than average. For example, high rise apartments are considered high density, especially in comparison to single-family homes or condominiums. High density real estate can also be developed from empty or abandoned buildings. For instance, old warehouses can be renovated and turned into luxury lofts. Further, commercial buildings that are no longer in use can be refitted into high-rise apartments. Opponents argue that more housing will lower the value of their home (or rental units) and change the “character” of neighborhoods. Proponents argue that the buildings are more environmentally friendly than single family homes will lower housing costs for people who cannot afford large homes.