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> What you are calling ‘value’ in this case is just a measure of how much other people want the property. It has nothing whatsoever to do with cost. This just m
by warkdarrior 6y ago
> What you are calling ‘value’ in this case is just a measure of how much other people want the property. It has nothing whatsoever to do with cost. This just makes it easier for even richer people to take existing property rather than invest in developing other places.
Allocating resources to the people who want it most (and presumably make the most of it) seems like a good goal to have. Wouldn't that be the most effective use of resources?
- zepto 6y ago> just a measure of how much other people want the property. Estimated property price doesn’t measure how much the existing owner wants the property. If they don’t want to sell it, we can safely assume that they want it more than the other people do.