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by energy123
276 days ago
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Correct, given that housing in one location is significantly fungible with housing in another location, barring some economic frictions. The total stock (both state-wide and nation-wide) is the metric that needs to be increased. |
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What do you mean by economic friction, because in real estate, “location, location, location” is the most important phrase.
The economic opportunities available to someone in living within 1 hour of SF and San Jose are vastly different to someone living 4 hours away, hence the house in one location is not fungible with the house in another.
Even on the more local level, the school district a house is located in will make a big difference.