Comment by blacksmith_tb
6 months ago
Well, I was obviously kidding, developers who build overpriced housing, or unneeded office or retail are part of the problem just like developers who build homes, especially affordable ones, are part of the solution.
Developers can't build "overpriced housing". If it's overpriced, it won't sell and the developer loses money until they right-price it and it sells.
Ah, the wisdom of the market. I could rephrase that as "housing targeted for the rich" who are already pretty well-served, unlike the poor.
It's not the "wisdom of the market" it is simply that pricing isn't set by the seller, it is set by a dynamic process between seller and the buyer.
If you don't believe me, try selling a luxury good targeting a rich buyer on FB Marketplace and see if you can set the pricing arbitrarily high.
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