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Yes, and this would really be awful in the short term, but in the medium term medicine companies would just spin up more production until the "very wealthy peop
by gregable 5y ago
Yes, and this would really be awful in the short term, but in the medium term medicine companies would just spin up more production until the "very wealthy people" demand has been met and medicine becomes available again at some reasonable price.
The fact that this is very likely prevents most of the speculation in the first place.
The difference with real estate is that the owners get to determine production levels, via local zoning laws.
Sure, there is some natural scarcity: Land cannot be created, but in most cases artificial scarcity is the issue.
- davidw 5y ago> The difference with real estate is that the owners get to determine production levels, via local zoning laws. I'm part of a local YIMBY group, and show up to hearings to try and get housing built, write letters, etc... I have never, ever seen 'investors' write in or speak at these things. It's all our neighbors who show up and scream about not building homes.
- WindyLakeReturn 5y agoCould this be a side effect of efficiency? Much more efficient for the investors to push for the ideas that lead to local homeowners showing up to protest than to protest themselves.
- davidw 5y agoInvestors don't have a voice locally. They don't write letters to the editor or post on Nextdoor. Pretty much all they have to do is sit back and reap the benefits of angry neighbors doing all the dirty work of preventing homes from being built. It's a pretty sweet gig. They even say this stuff straight up in their SEC filings.
- deleted 5y ago[deleted]