pretty much all the arguing about careers and making a living is really due to cost of living which is due to this graph, and almost nothing else. The red area is housing that doesn't exist. It's what 2008 caused us not to build. Solve this and you solve everything. https://t.co/UwVq3Ir4Qc
An agricultural economy starved of land will suffer. An industrial economy starved of raw materials will suffer. And a service economy starved of proximity will suffer.
Basically, if someone went into these past couple of years owning a house with a low fixed-rate mortgage, a portfolio of financial assets, and decent income, then they’re probably feeling pretty okay right now, economically speaking. However, those who didn’t manage to get a house before mortgage rates rose sharply, and/or who don’t have a lot of f
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Where land is expensive, a lot of people occupy a given patch of it. Where density is low, by contrast, land is typically cheap. The ability of real estate developers to ride the currents of supply and demand ensures that land should always be a low portion of overall housing costs.