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That's not quite an accurate statement about supply and demand. It's supply of the thing relative to demand for it. So a pretty niche product can be very expens
by rayiner 1y ago
That's not quite an accurate statement about supply and demand. It's supply of the thing relative to demand for it. So a pretty niche product can be very expensive if supply is even more limited.
So it's entirely fair to say that we should be figuring out how to decouple jobs from these costal cities. Lots of people wouldn't live in NYC if Wall Street was out in Topeka, Kansas instead.
- gruez 1y ago>That's not quite an accurate statement about supply and demand. It's supply of the thing relative to demand for it. So a pretty niche product can be very expensive if supply is even more limited. Yes, veblen goods exist, but given that coastal cities also happen to be the most populous cities, and such cities have underbuilt their housing supply for decades, it's pretty obvious that the current housing crisis phenomena is simple supply and demand. >Lots of people wouldn't live in NYC if Wall Street was out in Topeka, Kansas instead. What's preventing Topeka, Kansas from becoming NIMBY and choking off housing supply after it becomes a desirable place to live? After all, silicon valley isn't in new york, it was in California.