06-01-2018, 11:32 AM
I'm trying to find the source, but I still remember the detail that return on housing and return on the stock market, over the past 30 years housing has outperformed the market on average (and exceedingly in hotter markets), with a risk/volatility/standard deviation less than a quarter that of the market. I would hazard that most owners of property, especially in hotter markets, understand that restricted supply by way of things like zoning greatly affects this, and so you get the yellow belt, you get single storey as the heritage development style for certain areas of California, because if you have the power to determine your return on investment as these kinds of actions do, and nobody is stopping you, of course you will act accordingly in your self interest at the expense of vast untold others.