>We're overvaluing SQFT, and way undervaluing land This is exactly it! We are seeing a ton of individuals who are not wealthy, even if they have a strong inco

>We're overvaluing SQFT, and way undervaluing land This is exactly it! We are seeing a ton of individuals who are not wealthy, even if they have a strong income. They are buying into the idea of paying these crazy rent prices to stay "connected" or in the "heart" of the urban areas. Access to these things is not granted by housing, you can attend every fancy nightclub, restaurant and bar while living 15min away in a drastically larger/cheaper living arrangement.