Comment by ahmeneeroe-v2
6 months ago
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.
6 months ago
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.
You're completely missing the point. Unless your name is Ferrari or something like that, you didn't build said luxury item.