> The markets can be irrational for longer than you can stay solvent. Cute quote, now show me the data. > You can pull out silly tropes like some concept of "

> The markets can be irrational for longer than you can stay solvent. Cute quote, now show me the data. > You can pull out silly tropes like some concept of "correct market pricing". Which means "correct" according to some group of concerns vs some other group of concerns. Rarely do we get to directly design markets, and designed changes often go vastly wrong with unintended side effects. Correct market prices are the cost plus risk-adjusted returns. Essentially, the point at which economic profits are zero. > It's not irrelevant from a life stability perspective if you get priced out of your domicile for rent increases, vs keeping it for an owned property. People can individually value that stability or not, but it's a real consideration. That only happens if there is an artificial constraint in supply, generated by NIMBY policies. > here is also large overhead in not choosing the time that one wants to move if rents increase uncontrollably. Again, with freedom to build, prices won't move like that.