> You won't convince someone to build a new apartment building if they can't make money. This is orthogonal to the investment value of the apartment building a

> You won't convince someone to build a new apartment building if they can't make money. This is orthogonal to the investment value of the apartment building as an asset. Surely you generally build rental properties to make a profit via rent, not to make a profit on the land & building - thought you'll factor that into your models.