Really? It seems like once a group of people have lived somewhere for a generation or two and have a $Trillion invested in a place they probably are going to make it hard for new comers to make radical changes.
Kinda like a giant codebase that's been maintained for 50 years and has a million regular users is going to make updates difficult.
Find a place people don't already want to live and make that better with great new housing designs? Why do does someone deserve to move somewhere new and live there cheaper than the people who already live there?
Now, that said there are huge distortions to the market driven by taxes and leverage. Many expensive places have 10% unoccupied housing. Think about how much that is. Imagine the time, cost, and disruption to build even 10,000 units of housing, when there are 40-50k units unoccupied.
Kinda like a giant codebase that's been maintained for 50 years and has a million regular users is going to make updates difficult.
Find a place people don't already want to live and make that better with great new housing designs? Why do does someone deserve to move somewhere new and live there cheaper than the people who already live there?
Now, that said there are huge distortions to the market driven by taxes and leverage. Many expensive places have 10% unoccupied housing. Think about how much that is. Imagine the time, cost, and disruption to build even 10,000 units of housing, when there are 40-50k units unoccupied.