4 ms·
Economic value and desirability are related but different concepts, though. You'd have to pay me big bucks for me to even consider living in that 700 square foo
by progman32 5y ago
Economic value and desirability are related but different concepts, though. You'd have to pay me big bucks for me to even consider living in that 700 square foot condo. Just because other people are also willing to make a similar compromise (driving up the price) doesn't mean any of us necessarily prefer that condo over other forms of living.
- Negitivefrags 5y agoI find this kind of reasoning bizzare. Yes, the economic value and desirability are exactly the same. You just seem to discount the location of the condo as not being part of the value the condo is providing. But it is in fact the most important part of the value.