this post was submitted on 06 Apr 2024
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Well, they could certainly try, fail, and go bankrupt when the rents and values collapse. (If that's not the result, it just means you need to densify the zoning even harder.)
So everybody has to live toe-toe like God damn sardines because these people are too greedy? Sounds so great.
No, everybody has to live toe-toe because they all want to live in the same place. The 'landbastards' are ultimately just red herrings that have nothing to do with it.
Bruh, people are making money on Bitcoins and nfts. Speculative investments don't need to have any tangible value to be profitable. It doesn't matter that there's more houses than anyone could ever live in. It's a tulip panic, actual value is irrelevant.