Re:Bitcoin Price Hits All-Time High of $19,786, Topping 2017...
by atomi on Thursday December 03, 2020 @11:42AM
(#25290804)
> but if you can build up
And those at higher locations will be more costly because they'd be both desirable and scarce.
If your theory were true all homes would be priced on some square footage price constant. They're not.
Not home prices, but the trend in home prices. I think we do, that's why the BLS is tracking this number. I don't work in the industry though, so I can't say for sure.
> Real estate is deflationary because each asset is unique - like fine art or a 1 in millions baseball card misprint.
Respectfully I disagree. Real estate is only deflationary if you're looking at the square footage on the ground alone, but if you can build up a practically unlimited amount (and we really, really can) then it's not a relevant thing to look at. Each square foot on the ground turns into more and more square feet of real estate over time as you build higher and higher.