Ownership of land is not labor intensive, its not Baumol's cost disease. The U.S. has had two decades of intense real estate price manipulation, first with cre

Ownership of land is not labor intensive, its not Baumol's cost disease. The U.S. has had two decades of intense real estate price manipulation, first with credit pre-2008 and then with low interest rates post 2008. And then there is a global situation with china pushing up global demand.