Every year, existing residential property owners in SF get ~$130B more in value from just sitting on their land: http://www.bizjournals.com/sanfrancisco/blog/real-estate/2016/01/san-francisco-home-values-zillow.html …https://twitter.com/sfyimby/status/863165061543608320 …
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Land is a fixed cost, no? Not marginal cost.
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Once you buy it. But if you haven't started your project yet and need to acquire land.
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