most of the highly desirable areas are either fully built or land costs a fortune. this is exactly the problem for housing prices: supply can't increase while

most of the highly desirable areas are either fully built or land costs a fortune. this is exactly the problem for housing prices: supply can't increase while more and more people want to live there(world population keeps growing and migration is at peak levels) opposed to that there are countries, cities or neighbourhoods where you can buy property cheaper than the price of building it