> population can grow as e^n Population growth is slowing worldwide and is below replacement in all major developed countries. Thus, your e^n is only applicabl

> population can grow as e^n Population growth is slowing worldwide and is below replacement in all major developed countries. Thus, your e^n is only applicable if n is between 0 and 1! Sure, desirable cities can grow faster than the overall average, so let's put that at somewhere between linear and quadratic -- heavily towards the linear. Even so, the ability to build at I^3 can easily outstrip that demand with the right policies. Furthermore, remote work can spread out demand. We are seeing that right now with the pandemic. I believe that the pandemic will be one of the greatest accelerators of globalization due to it's enabling remote work. As further proof of the slow pace of population growth in developed countries eventually causing an impact on the housing market, look at Japan. "Government statistics as of 2018 consider 13.6 percent of properties in the country to be ghost houses. Put another way: By 2040, the total size of abandoned properties in Japan is estimated to equal the land size of Austria." [1] [1] https://www.atlasobscura.com/articles/japanese-ghost-houses https://www.atlasobscura.com/articles/japanese-ghost-houses