5 ms·
This is incorrect. Those homes are expensive because the land beneath them is expensive. The finishes are largely irrelevant. And the land is expensive because
by matchbok 6y ago
This is incorrect. Those homes are expensive because the land beneath them is expensive. The finishes are largely irrelevant.
And the land is expensive because there are not enough places like them.
- asdff 6y agoIt all comes down to job growth driving demand on housing supply. The better the local economy, the more hiring is going on, the more people are recruited and look for housing convenient to work. Hardly anyone uproots themselves and moves to a new city without having a job lined up first. The value of the underlying land is speculative based on demand induced by job growth.