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I didn't buy this argument in particular (though the article in general was compelling). Housing follows jobs. It's not as though there are hedge funds there be

I didn't buy this argument in particular (though the article in general was compelling). Housing follows jobs. It's not as though there are hedge funds there because a bunch of people with finance degrees decided to move to Manhattan. And even if such a network effect kicks in, there's a limit to what that industry can sustain. Also how many of those high rises are residential?

frgtpsswrdlame 8y ago
>even if At least read the article man. Besides it's perfectly possible that what you posit in Manhattan is true and saying that there's a limit says nothing about how close we are to it. If that limit is far off then agglomeration effects outweighing increasing supply is still a possibility far into the future. We're willing to accept that the demand curve for labor is upward sloping - that's our justification for immigration. So why is it so hard to accept even the possibility that in certain locations the demand curve for housing is also upward sloping?