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Because the population is growing, and people want to live in SF/NY/London/... not in the middle of nowhere. Real estate prices in landmark places will continu
by 781 7y ago
Because the population is growing, and people want to live in SF/NY/London/... not in the middle of nowhere.
Real estate prices in landmark places will continue going up, probably at an accelerating pace as more people get richer and bid it up.
- barry-cotter 7y agohttps://twitter.com/geographyjim/status/1121809404049776641?s=20 https://twitter.com/geographyjim/status/1121809404049776641?... GIF of housing supply in London, New York, Paris and Tokyo, 1970-2013, showing growth of maybe 1/3 in the first three and doubling in Tokyo. Amazingly real estate prices in Tokyo are basically flat throughout this period, those of the other three, not. Real estate prices will go up in desirable locations if supply is not allowed to grow with demand.