and that's why single family homes should be more expensive, because it is better. People continue to bid it up, because they still believe that the price is worth and hasn't reached a ceiling yet.
In asian hubs like hong kong or shanghai, they've reached a certain ceiling on land, and so building up is now what most people could buy and so they do that. The cities in countries like canada, australia and the west coast of the US, it hasn't reached that point due to large available land mass, and people prefer commute (or WFH now!) over living densely.
Of course, regulation plays a part - i think there's unnecessarily large amount of red tape in making taller denser buildings, as well as a lobby of existing owners who don't want it near themselves.
and that's why single family homes should be more expensive, because it is better. People continue to bid it up, because they still believe that the price is worth and hasn't reached a ceiling yet.
In asian hubs like hong kong or shanghai, they've reached a certain ceiling on land, and so building up is now what most people could buy and so they do that. The cities in countries like canada, australia and the west coast of the US, it hasn't reached that point due to large available land mass, and people prefer commute (or WFH now!) over living densely.
Of course, regulation plays a part - i think there's unnecessarily large amount of red tape in making taller denser buildings, as well as a lobby of existing owners who don't want it near themselves.