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Supply is also naturally restricted because there is only so much land in an area. Especially when we are talking about people interested in their own dwelling/
by TimPC 5y ago
Supply is also naturally restricted because there is only so much land in an area. Especially when we are talking about people interested in their own dwelling/home where building a condo just means they look elsewhere. People forget this basic fact a lot when talking about housing.
- reducesuffering 5y agoLuckily humanity learned to build skyscrapers eons ago. You're forgetting about the many people who would easily shift to condo housing if it was 2x cheaper, but aren't because it's marginally cheaper than a SFH, and they don't want to put 3x their net worth into a condo that will probably end up financially worse than a SFH. So you still have a huge population that would live in condo's if it was more affordable. And housing pricing is all about the margins of the market, so you fix that imbalance and you make the housing market a whole lot more healthy.
- sudosysgen 5y agoSkyscrapers get expensive quick and can rapidly max out the infrastructure.