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I don't think building costs are the main issue with availability of housing. You need the land to build on - and not just any land, but land in desired locations.

How are the artificial mega cities in China doing? Didn't they build several cities from scratch that are supposed to house several million people each?

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That's why the ability to work from home is important. Sure there will still be expensive cities, but living on cheap rural land will be much easier.

sure but why would you want to live somewhere rural?

Plenty of people would like to live somewhere rural but can't because of work. Obviously not everyone falls into this category, but lower demand in cities = lower prices.

Most of those cities are filled up or filling up, so maybe there is something more to building new cities when WfH becomes even more viable.

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