3 ms·
Cost disease primarily applies to markets where much of the product is labor. Construction has been slow to automate, but there has been considerable progress
by m0llusk 9y ago
Cost disease primarily applies to markets where much of the product is labor. Construction has been slow to automate, but there has been considerable progress especially recently. Most of the excessive cost of properties comes from land rights and acquisition costs and not construction. Over long periods housing markets revert strongly to medians.