Because then you'd know that housing is not rent-seeking by this definition as there clearly is a contribution to productivity.
Houses have to be built, maintained, developed and advertised on the market. And there are a lot of risks in this business.
For example, home-owners in San Francisco who actively prohibit new construction are rent-seekers.
Because then you'd know that housing is not rent-seeking by this definition as there clearly is a contribution to productivity.
Houses have to be built, maintained, developed and advertised on the market. And there are a lot of risks in this business.