And “desirable” is a fairly dynamic thing with really unequal outcomes. The people who are best able to afford it (yes the gentry, of gentrification) have shift

And “desirable” is a fairly dynamic thing with really unequal outcomes. The people who are best able to afford it (yes the gentry, of gentrification) have shifted considerably in their preferences in the past 20 years or so, from large suburban properties to much more dense urban centers or at least close/quickly accessible proximity to them. Scarcity of actual space to develop anything increases as population density does too. Some of this desirability has shifted back since the pandemic, but I don’t think it’ll be enough to negate the non-linear price inflation that’s happened and still is. Major and medium sized cities are just growing faster than the land and policy incentives can keep up with, especially relative to overall population growth.