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BUILD MORE REAL ESTATE Every time I drive through mid west, its mind boggling how you see miles of fences along the highway, with no cattle, crop, or a house

BUILD MORE REAL ESTATE Every time I drive through mid west, its mind boggling how you see miles of fences along the highway, with no cattle, crop, or a house in sight, and the total property area is almost as big as downtowns of cities.

bcrl 4y ago
There was a time when that would work, but more rental properties won't help if all the landlords are colluding^H^H^H^H^H^H^H^H^Husing cloud software to manage their rental properties that use "data" to set prices. Have a listen to the Behind the Bastards podcast on the topic over at at https://www.iheart.com/podcast/105-behind-the-bastards-29236323/episode/part-one-why-is-the-rent-104321463/ https://www.iheart.com/podcast/105-behind-the-bastards-29236... to get a bit of an idea how we got to where the market is today.
expertentipp 4y ago
Bulk real estate purchasers are furious and have infinite money and/or leverage. If the property is even remotely desirable or its location is, it's gone.
m463 4y ago
years ago I thought the same thing when flying across the country. You look down and the 30 minute commute to work passes in an instant, and then you continue flying for hours and hours and the empty land goes off to the horizon in all directions. I think it's artificial scarcity.
- expertentipp 4y ago
  Once had similar flash thought on taking off in an airplane over center of a major city - "no way every 2-3 windows in every tiny building are worth 500k EUR... I must be looking at hundreds of trillions worth of wealth here".
  - MichaelZuo 4y ago
    Hundreds of billions is plausible. Toronto alone gets almost $20 billion USD in new construction real-estate, every year.
- cafard 4y ago
  So are you going to move to a location where it's a two-hour drive to Minot or Limon? Not everyone's work can practically be done from home.
cyanydeez 4y ago
Found the developer. This isn't a real estate problem. It's absolutely a collusion and corrupt business practices problem followed by enforcement. You see the same corruption in the pharmaceuticals where maximizing profits is antisocial. Wealth inequality allows profiting of a minority individual. Since this is hacker news, let's explain it in APP profit terms: companies are incetivized to make their products addictive, easy to get and then once you have reached the largest audience, you jack up fees till you have the most whales at their spending limit. In none of these examples is supply a limit or driver of prices.
koromak 4y ago
The diamond industry doesn't look at the high cost of diamonds and say "Mine more rock!". They say, warehouse all of our current inventory and drip it out over decades so that we can make it even more inflated.
- deleted 4y ago
  [deleted]

bcrl 4y ago

There was a time when that would work, but more rental properties won't help if all the landlords are colluding^H^H^H^H^H^H^H^H^Husing cloud software to manage their rental properties that use "data" to set prices. Have a listen to the Behind the Bastards podcast on the topic over at at https://www.iheart.com/podcast/105-behind-the-bastards-29236323/episode/part-one-why-is-the-rent-104321463/ https://www.iheart.com/podcast/105-behind-the-bastards-29236... to get a bit of an idea how we got to where the market is today.

expertentipp 4y ago

Bulk real estate purchasers are furious and have infinite money and/or leverage. If the property is even remotely desirable or its location is, it's gone.

m463 4y ago

years ago I thought the same thing when flying across the country. You look down and the 30 minute commute to work passes in an instant, and then you continue flying for hours and hours and the empty land goes off to the horizon in all directions. I think it's artificial scarcity.

expertentipp 4y ago
Once had similar flash thought on taking off in an airplane over center of a major city - "no way every 2-3 windows in every tiny building are worth 500k EUR... I must be looking at hundreds of trillions worth of wealth here".
- MichaelZuo 4y ago
  Hundreds of billions is plausible. Toronto alone gets almost $20 billion USD in new construction real-estate, every year.
cafard 4y ago
So are you going to move to a location where it's a two-hour drive to Minot or Limon? Not everyone's work can practically be done from home.

cyanydeez 4y ago

Found the developer. This isn't a real estate problem. It's absolutely a collusion and corrupt business practices problem followed by enforcement. You see the same corruption in the pharmaceuticals where maximizing profits is antisocial. Wealth inequality allows profiting of a minority individual. Since this is hacker news, let's explain it in APP profit terms: companies are incetivized to make their products addictive, easy to get and then once you have reached the largest audience, you jack up fees till you have the most whales at their spending limit. In none of these examples is supply a limit or driver of prices.

koromak 4y ago

The diamond industry doesn't look at the high cost of diamonds and say "Mine more rock!". They say, warehouse all of our current inventory and drip it out over decades so that we can make it even more inflated.

deleted 4y ago
[deleted]