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A speculator necessarily performs no capital improvement, so developers are by definition not speculators. They're turning an unproductive piece of land into a useful commodity. Calling productive activity, that people apparently value, does a disservice to creators everywhere and entrenches NIMBY attitudes.

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Their success is reliant on housing staying unaffordable. That is the only way to make "microhousing" profitable. They don't create anything unique. If anything this will make sure housing remains unaffordable and no one will create much of anything. What do you think "entrenches NIMBY attitudes" is if not financial interests?

This is like calling farmers speculators, because their success relies on food continuing to cost money.

No, I don't think that is the same thing. In this case they are specifically lowering the standard of living. If the standard of living returns to a more normal state, where more traditional accommodation becomes more affordable, their investment becomes unprofitable. That is more like if a farmer would permanently change their fields to something that is high priced at the moment. Which would be speculation.

Building additional housing lowers the standard of living? Obviously some people think it's more attractive than the alternative, or else they wouldn't live there...

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