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A comment on Tech elites leaving San Francisco threaten Silicon Valley's supremacy. Parent comment

Re:Tech elites leaving San Francisco threaten Silicon Valley... by lotsofpulp on Monday December 07, 2020 @04:27PM (#25337805)
>Second, due to labor and materials costs, the price of housing in many areas is far below the cost to build new housing so housing prices will necessarily go up even with maximum build rates.

Specifically, the cost of land is what causes the cost to build to be so high. Owning unproductive land is cheap, and incentivizes simply holding onto it until it appreciates sufficiently.

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Re:Tech elites leaving San Francisco threaten Silicon Valley... by ummonk on Tuesday December 08, 2020 @07:51PM (#25353837)
Well the cost of land worsens housing prices, but even assuming the land is of negligible value the cost of construction itself will make new houses quite pricey compared to older homes in non-bubbly markets.
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Re:Tech elites leaving San Francisco threaten Silicon Valley... by nitrogen on Monday December 07, 2020 @05:21PM (#25338493)
The cost of timber has also tripled this year, at least in some areas.
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