Неусвоенные уроки после пузыря на рынке недвижимости

НЬЮ-ХЕЙВЕН – Цены на жилье вызывают много непонимания. Многие люди во всем мире, кажется, считают, что поскольку в быстро растущей мировой экономике истощается запас земли, цены на дома и квартиры должны расти огромными темпами.

Это непонимание заставило людей покупать дома ради их инвестиционной ценности – и тем самым было главной причиной создания пузырей на рынке недвижимости по всему миру, взрыв которых способствовал текущему экономическому кризису. Это непонимание может также способствовать росту цен на жилье, когда кризис закончится. Действительно, некоторые люди уже облизываются по поводу спекулятивных возможностей купить недвижимость на сегодняшних застойных рынках.

Но на самом деле мы не испытываем недостатка в земле. Каждая крупная страна в мире обладает достаточным количеством земли в виде ферм и лесов, большую часть которых можно когда-нибудь преобразовать в городские угодья. Менее 1% территории земного шара плотно урбанизировано, и даже в самых густо населенных крупных странах эта доля составляет менее 10%.

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