There is of course the supposed capitalistic reason of doing so, which is to make it more lucrative for others to build additional homes. Additional homes should in turn dampen the prices again. This however hasn’t been panning out the last few decades, as the prices have kept inflating.
In my area those who decide on new building projects own a lot of property, so they of course keep additional homes being build to a minimum to further increase prices of their property… it’s a rigged system, by design.
There is of course the supposed capitalistic reason of doing so, which is to make it more lucrative for others to build additional homes. Additional homes should in turn dampen the prices again. This however hasn’t been panning out the last few decades, as the prices have kept inflating.
In my area those who decide on new building projects own a lot of property, so they of course keep additional homes being build to a minimum to further increase prices of their property… it’s a rigged system, by design.