A direct consequence of how the West treats real estate as an investment.
People bet 10 x their yearly income on a property, and then they will do anything in their power to make that value rise, or at least not fall: NIMBYism. They will block any effort that potentially lowers the value of their property.
And I don't think you can blame them, as we can't expect them to voluntarily lose a lot of money.
People bet 10 x their yearly income on a property, and then they will do anything in their power to make that value rise, or at least not fall: NIMBYism. They will block any effort that potentially lowers the value of their property.
And I don't think you can blame them, as we can't expect them to voluntarily lose a lot of money.