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Housing scarcity is more about the cost of the land than the house itself. You're right that that a house can be built for $50k (not by most modern standards, b
by dencodev 6y ago
Housing scarcity is more about the cost of the land than the house itself. You're right that that a house can be built for $50k (not by most modern standards, but it can be done). But if you wanted that $50k house in SF bay area, suddenly it's on a piece of land worth $2 million.
- oblio 6y agoYeah, but these days you can build cheap, decent quality apartment buildings with 10-12-20 floors. Suddenly that piece of land can afford much higher population density.
- CalRobert 6y agoRight - but if you have 50 people living in an apartment building on that land it becomes reasonable again.