4 ms·
Ok....there is clearly more housing in San Francisco today than there was 50 years ago. Why does housing in San Francisco cost more today than it did 50 years a
by jacalata 10y ago
Ok....there is clearly more housing in San Francisco today than there was 50 years ago. Why does housing in San Francisco cost more today than it did 50 years ago?
- BurningFrog 10y agoBecause price depends on supply and demand. Supply has gone up, but demand has gone up even more.
- jacalata 10y agoCongratulations on recognising that your glib generalization above was wrong! Now see if you can imagine any way in which development of a neighbourhood can ever increase demand. An idea to get you started: there exist people who would like to live in a nice apartment but who would not be interested in an old rooming house. There exist people who only want to live somewhere that already has residents at their (higher) income level. There exist services that are only offered in areas that have people with x disposable income. And there exist people that will only move somewhere that said services exist.