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> Yes - why don’t we invest in places where house prices are lower? There is an old quote. "Why do people rob banks? Because that is where the money is." Whate

> Yes - why don’t we invest in places where house prices are lower? There is an old quote. "Why do people rob banks? Because that is where the money is." Whatever benefits of the area are why people were willing to pay higher prices. It is good for not as nice areas to develop but trying to bootstrapping a less developed area is also expensive with fewer guarantees of demand in the area. It is like trying to go max density zoning from the start in Sim City and having massive bills and no demand. "Retirement communities" are the main demand for those cheaper niches and even then they have other demands to fulfill like medical care.

zepto 6y ago
> trying to bootstrapping a less developed area Nobody is talking about bootstrapping demand in less developed areas. Elsewhere people were talking about how people were being forced to buy houses in places like Stockton because they couldn’t afford to buy them in Cupertino. So the demand is already there. One complaint was that those people have to travel a long way to get to work. One dystopian solution to this is to use taxes to confiscate property from people who live near employees, so that workers can live there temporarily. Another way is for companies to open offices in places where their workers can afford to live, contributing to the creation of more attractive communities as they do so.