4 ms·
The price of the same good (livable land amongst interesting opportunities and people) increased rapidly as the supply of money increased. What's worse is that
by DaniFong 17y ago
The price of the same good (livable land amongst interesting opportunities and people) increased rapidly as the supply of money increased. What's worse is that the supply of money increased primarily for those people who wanted to blow it on a home spending bonanza. Now that the supply of money has dwindled, there's hardly any left in desirable areas at affordable prices for people who are not rich.
Suppose I wanted to buy land to build my own home, starting from a tent, in the bay area. Where would I go?