[mlsu]

Yes, but this speculation is grounded on the possibility of extracting future rents. Which is an assumption about future relative scarcity.

We’ve all decided that it’s totally fine to artificially limit the supply of real estate. Speculation is the market (correctly, in most cases) betting that that will continue.

[SequoiaHope]

I kept rewriting my reply until I started just looking up research. I should go do something else with my day hah but it seems the affect of speculation on price is unsurprisingly complex.

https://www.sciencedirect.com/science/article/abs/pii/S24058...