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And you're ignoring that many people _do_ care about city living. > sure there is a price premium, but $600k seems more reasonable than $1.5M. So now you've b
by maccard 5y ago
And you're ignoring that many people _do_ care about city living.
> sure there is a price premium, but $600k seems more reasonable than $1.5M.
So now you've built $600k houses, not $300k houses. And if there are desireable jobs in the area, that pushes the demand for thouse $600k houses up to the amount that is paid in the area.
- danaris 5y agoAnd you also need to bear in mind that a 2x increase in house price means much more than a 2x decrease in the number of people who can afford it.