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The problem is that most people making the decisions own one or more units. If they decided to build more housing, the value of their investments would decline.
by kekeblom 9y ago
The problem is that most people making the decisions own one or more units. If they decided to build more housing, the value of their investments would decline.
- closeparen 9y agoI'm not sure this is true - the value of their land would skyrocket if rezoned for a more productive use.
- deleted 9y ago[deleted]
- naravara 9y agoInstead of selling one $6M mansion, they could sell a multi-unit building with $30M worth of condos though.