You're making a case for inflation in general, but not for how housing prices dramatically outpace overall inflation. I suggest it would not absent government intervention, or at least not to the same degree.
That government intervention clearly benefits certain businesses and the wealthy.
Not all land is equal in value nor is its value static and fixed for all time.
You could have two houses that are nearly identical with identical acreage; if one is located near a town that grows and offers more and better services and employment opportunities over time then that house increases in its valuation Even if it never physically changes. The other could be located in a shithole town with no jobs, schools, stores, police/ems....its valuation is going to tank.
You're making a case for inflation in general, but not for how housing prices dramatically outpace overall inflation. I suggest it would not absent government intervention, or at least not to the same degree.
That government intervention clearly benefits certain businesses and the wealthy.
There is no shortage of land in this country.
Not all land is equal in value nor is its value static and fixed for all time.
You could have two houses that are nearly identical with identical acreage; if one is located near a town that grows and offers more and better services and employment opportunities over time then that house increases in its valuation Even if it never physically changes. The other could be located in a shithole town with no jobs, schools, stores, police/ems....its valuation is going to tank.
This is all true, but it's not addressing my main point about those prices being impacted by government intervention.