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So in a sense housing will always be expensive because of scarcity of land and demand for housing?
by mpg33 14y ago
So in a sense housing will always be expensive because of scarcity of land and demand for housing?
- gexla 14y agoAgain, it depends on demand vs supply. Land in the middle of nowhere in Alaska is abundant with little demand, so land there isn't considered scarce. In Manhattan, New York, demand causes increased living space to be created by building upwards. In San Francisco, city restrictions on building heights limit supply (can't stack as high vertically as you can in Manhatten.)