Megan on Nostr: npub1h2nsq…znx0j On supply, his 2 arguments were: - housing isn’t like a ...
npub1h2nsqts7l467nrvvdr343530pgm8ug6np5udfwlnwcet5alm5aqqyznx0j (npub1h2n…nx0j) On supply, his 2 arguments were:
- housing isn’t like a perishable good like bananas where value decreases over time
- land supply is fixed
He ignores:
- Land appreciates (in a desired area) but the house itself depreciates. Easier to picture if you think of a camper van parked on land. The van loses value while the land appreciates.
- We can build up (eg replace house with apartment)
- Empirical examples from our own history and other markets, counter to his class war narrative.
- housing isn’t like a perishable good like bananas where value decreases over time
- land supply is fixed
He ignores:
- Land appreciates (in a desired area) but the house itself depreciates. Easier to picture if you think of a camper van parked on land. The van loses value while the land appreciates.
- We can build up (eg replace house with apartment)
- Empirical examples from our own history and other markets, counter to his class war narrative.