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Wael Abdul Rahman (author)'s picture
5 years 1 day ago
Wael Abdul Rahm... - Thank you for your comment. Please refer to my earlier comment regarding the argument of land scarcity. I know this is a vastly used argument, but it doesn't matter how much land is left if you are pricing at a level which no one can afford (which is the case right now). First of all, prices will have to adjust to a level where transactions can occur (in order to have a market for the forces of demand and supply to interact) regardless of land scarcity; then we can talk about how much land is left and price it. jm, you make very good and valid points. Thank you.