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Noah Caldwell-Gatsos's avatar

This theory seems like it requires developers to be able to costlessly hold onto land indefinitely, which isn't realistic for most developers who use leveraged financing and face interest payments, face carrying costs like property taxes/ongoing site security, and would encounter capital constraints when they go to their next deal.

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Christopher's avatar

I wonder to what extent housing is usually tied up with community/whanau and forms the basis for communal goods is missing from this picture - this is how the majority of home owners view housing, rather than a thing to be bought and sold.

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