[pixl97]

> changing less than they could,

Possibly, with the event of modern high speed communications pricing is much more transparent. Also, the theory is there were far more landlords in the past and the market is condensing on a much smaller number of them.

[sjjshzvuiajhz]

I’m really skeptical of this - my mental model is that when a city is initially settled and developed, large tracts of land are owned by people who end up becoming the local “old money” families who may truly have been monopolists. Over time they sell off chunks to “foreign investors” (who might come from the next town over or across the globe) which diversifies ownership.