How would that apply to the Bay Area Housing market?
If someone started building a whole bunch of housing in SOMA, do you believe that this ROI would disappear quickly, due to housing prices hitting rock bottom?
No, I was mostly arguing generally, that a monopoly can exist without it being the government's fault. But I think it's fairly clear that the housing market is indeed strongly influenced by regulation.
If someone started building a whole bunch of housing in SOMA, do you believe that this ROI would disappear quickly, due to housing prices hitting rock bottom?
Do you really believe that would happen?