Housing prices have the potential to be infinite due to the infinite cost of producing redundant land. The land on which houses sit can't be produced. Someone

Housing prices have the potential to be infinite due to the infinite cost of producing redundant land. The land on which houses sit can't be produced. Someone owning all the existing land would ask for any payments and couldn't be refused unless the consumers wouldn't want to live anymore. So when we are talking about housing, we have to be careful about qualifying the price as a bubble. There's underlying value underneath that can warrant any price.