Except that it isn't a paperclip maximizer because it has a well-defined stopping point. They stop doing it when it stops being profitable. Which is to say, whe

Except that it isn't a paperclip maximizer because it has a well-defined stopping point. They stop doing it when it stops being profitable. Which is to say, when there is no longer a supply shortfall and the sale price falls below the construction cost. We would be better off if zoning density restrictions were entirely unconstitutional. Some state should try that.