Re:US Construction worker productivity has dropped 40% in th...
by RC_ITR on Tuesday January 24, 2023 @02:17AM
(#34500474)
And this is part due to the fact that real estate has to (at least in part) be valued on hypothetical replacement cost.
Can’t have apartment buildings reading hands for $100mn when a new one costs $20mn (or have the land sell for $80mn when you only allow 2 stories to be built on it).
Can’t have apartment buildings reading hands for $100mn when a new one costs $20mn (or have the land sell for $80mn when you only allow 2 stories to be built on it).