You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more
When there is sufficiently supply, the price of a house / apartment goes down over time as it gets older (thus less attractive) and needs repairs. Eventually you have to tear it down and rebuild. Just like a factory. Or a car.
The price of housing only goes up because of artificial constraints that prevent supply from meeting demand. Housing works as an investment because we don't build fast enough / dense enough.
Artificial restrictions on housing development are a regressive tax on the poor and a gift to the rich, period. It's wealth transfer from renters to owners.
Imagine applying the "gentrification" narrative to any other asset, like cars. "Producing high-end cars is pricing the working class out of the market, they can't buy second-hand Toyotas anymore, we need to stop making high-end cars". It sounds insane.
You know what actually increases the cost of cars? That's right, the microchip shortage. Because it introduces constraints that reduce the rate of production of new supply. Guess what? Housing works the same, but NIMBYs are the microchip shortage.
I get the point about housing constraints though the generalized claim that these constraints are the only reason for house prices to go up seems questionable.
The only other factor is land scarcity (alleviated via density ans transportation infrastructure). There is no third factor.
Don't you think that part of the reason prices go up is that labor & material costs go up (at least in the world of fiat currencies - they do)?
Also high prices are incentivized by percentage real estate commissions and bank fees. Everyone wants the deal to happen at the highest price possible and then the government essentially guarantees the debt which incentivized risk taking on default.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.
