I don't believe in the argument that you shouldn't worry about real estate price hikes because they would be caused by purely regional factors. For instance, if immigration into a certain region causes price hikes, emigration from another region depresses prices, thereby cancelling out the impact on macrolevel. This doesn't seem the case and that exactly is the issue here.
Besides, aren't estate booms always concentrated into a couple of hot spots? (Tokyo, London...) It doesn't seem to alleviate the hangover though.
Besides, aren't estate booms always concentrated into a couple of hot spots? (Tokyo, London...) It doesn't seem to alleviate the hangover though.
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