> Housing isn't like manufactured goods where the marginal cost decrease the more you make. Since the more you build in one area the less available space there is. If you want to decrease cost you have to supply more space.
This was probably true in 1750, but today you can build up. A 2000 SQ foot home can become a 40,000 SQ foot tower.
Right but sometimes the super expensive part is just the land it's built on.
My unit has a construction cost that's significantly less than half of my unit's total value. The tiny one story ramblers across the street all sold for over a million a pop, but the houses were worth ~negative to the purchaser and got torn down and replaced.
This was probably true in 1750, but today you can build up. A 2000 SQ foot home can become a 40,000 SQ foot tower.