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Why does this matter? The problem stated is lack of supply generally, not that people want bigger homes, right? Who cares if people are parking their money in a
by jb3689 4y ago
Why does this matter? The problem stated is lack of supply generally, not that people want bigger homes, right? Who cares if people are parking their money in a bigger home if they only have a single home?
- hot_gril 4y agoBigger homes take more space, and that's the constrained resource in places where houses are expensive.
- conradkay 4y agoThe lack of supply is because of a lack of desirable land. I don't think viewing it through the lens of "houses" getting more expensive is correct, as many old homes being purchased for 500k+ near me will be immediately torn down. There's a finite supply of land in driving distance of a city and bigger suburban houses mean less homes can be built. If you don't view it like that, bigger homes still require more materials and man-hours.