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> Overnight, their house is much more valuable because if they choose to, they can sell to a developer who can make MORE money by building more homes. This onl
by pxeboot 5y ago
> Overnight, their house is much more valuable because if they choose to, they can sell to a developer who can make MORE money by building more homes.
This only works due to scarcity. If everybody could do this, the values would stop increasing and could potentially drop.
- ihaveajob 5y agoAnd I would argue that's a good thing, save for those who overbought housing with the expectation of it continuing to rise in value. But it's not responsible to shape the housing market to favor those following the greater fool scheme.