Quote:
Originally Posted by mhays
It's far cheaper to build in Chicago -- cheaper land, easier process (my understanding), cheaper logistics, probably lower wages.
The balance of supply and demand is important, but cost is the #1 factor.
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Well of course.
But I heartthed's point seems to be that Chicago should have simply just built 10x more housing than it did; then it's population wouldn't have declined.
The theoretical math on that is obviously true, but back here in reality, you still need actual human bodies to live in those housing units if you want your population to increase.
"Build it and they will come" is just a cheesy line from an old baseball movie, not some automatic rule of the housing market,
especially not in the rustbelt.