barring rational regulation, we are likely to observe irrational actions in the future. Cost Disease is progressing to the point where prices are non-sensical. How does the median house appreciate more than the median income every year? Carry forward college prices 15 years and a 4 year degree will cost 800k. These are not sustainable numbers. Gen Alpha would be facing a 1.6 MM starting home cost and be saddled with hundreds of thousands in student loan debt.
Yes, we need to build more houses. Investing in real estate only makes sense when supply is constrained. When we allow people to build housing values tend more toward the cost to build as you cant speculate without constraining supply.
