Houses, houses everywhere -- but nary one to buy

  • Cities have not just grown in population, but expanded outward.
  • Cities thrive on the coasts of seas and sea-sized lakes, not just because of beaches, but shipping -- the lowest friction, lowest cost to ship anything.
  • A coastal city can expand at only half the pace of an inland one, unless it grows its radius inland twice as fast. River-based cities have it easier but are still limited.
  • Outward expansion has run its course, outrunning diameter and the cost of public or auto transportation.

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

We all see now the shortage of new construction in good markets. Every observer says that sales are suppressed by nothing to sell. Theories abound: development fees, open space reservations, regulation — and there’s always the cost of land, labor and materials. Consider another: geometry.