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A comment on The end of the housing supply debate (maybe). Parent comment

Re:The end of the housing supply debate (maybe) by AnimalMuppet on Thursday November 09, 2017 @07:21PM (#15666952)
Not necessarily. There are things called "Veblen goods". For them, the demand rises as the price rises, because the higher price confers additional status. You pretty much have to be in prestige, luxury goods for this to happen, though, so it's (probably) not relevant to a discussion of entry-level housing.
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Re:The end of the housing supply debate (maybe) by d1zzy on Thursday November 09, 2017 @07:55PM (#15667105)
That doesn't seem to apply in this case however. This article is talking about people paying >$1 mil for shitty shacks in Silicon Valley. It seems very hard to think of people buying those because it confers "status", actually, anecdotal evidence from my coworkers and I, we are ashamed of telling folks back home how much we payed or showing pictures of our new house.
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Re:The end of the housing supply debate (maybe) by AnimalMuppet on Thursday November 09, 2017 @08:02PM (#15667134)
I agree; I don't think it applies in this case either. I was merely pointing out that one small part of quotemstr's argument didn't hold.
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