> Houses are positional goods. If you earn five times as much, your colleagues w... | Hacker News

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		thaumasiotes on March 4, 2022 \| parent \| context \| favorite \| on: New York Times tech workers vote to certify union > Houses are positional goods. If you earn five times as much, your colleagues will too, and there will be a bidding war until the price matches your earning power again. This requires the assumption that additional houses can't be constructed. > See also: The absurd real estate prices in the Bay area. See also: the Bay area.

ejb999 on March 4, 2022 [–]

>>This requires the assumption that additional houses can't be constructed.

In a lot of places near expensive cities, that assumption is pretty valid.

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