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> I don't think it applies to housing. It does. Evidence: no large city in the US, Japan, or the Western Europe managed to lower housing prices long-term by in
by cyberax 2y ago
> I don't think it applies to housing.
It does. Evidence: no large city in the US, Japan, or the Western Europe managed to lower housing prices long-term by increasing density.
Prices only go down if the city population goes down or stops growing.
- Etheryte 2y agoAs highlighted elsewhere in the comments, Vienna very much did. Once they stopped building it eventually became an issue again though.
- cyberax 2y agoNo, they did not. They went down the "decrease population" route: https://www.macrotrends.net/global-metrics/cities/20107/vienna/population https://www.macrotrends.net/global-metrics/cities/20107/vien... Once the population growth returned, the prices went up as well. And no amount of new construction helped: https://www.globalpropertyguide.com/europe/austria/home-price-trends https://www.globalpropertyguide.com/europe/austria/home-pric... Again, perfectly fits my prediction and contradicts your model.