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by averageRoyalty
685 days ago
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Aggressive increase in supply reduces demand, which reduces price of existing stock. Many, many people have a vested interest in keeping that stock at a high price (both single family home owners and investors). Wiping 10 years of payments a family has made off the value of a property overnight isn't popular. On top of that, housing is a key element of our economy ("safe as houses") and the impact on a big enough drop to make a difference would likely be very bad. |
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