[qazxcvbnm]

Revealed preferences are only as revealing as the market is competitive. In monopolies, is it not revealed that the populace prefers to be price-gouged? In a market as regulated as housing and with deep ties to policy (and industrial structures that I have heard about which I do not understand), it's difficult to not be sceptical of revealed preferences as a sole convincing explanation.

[Retric]

What you’re describing may impact housing developments etc, but I don’t think many markets are more competitive than used homes.

Despite its rarity a 3 acre lot is rarely worth 3x what a 1 acre lot would be, unless it can be subdivided.