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Are you sure? I see values of $1.7M or so for Berkley [1]. In Munich it's around 10k Euros per square metre. There are many properties with prices around the Berkley value [2], although flats will be cheaper.

[1] https://www.zillow.com/berkeley-ca/home-values/ [2] https://www.immowelt.de/liste/muenchen/haeuser/kaufen?sort=r...

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Berkeley recently built a five story building after ten years of development limbo.

Actually building the apartments in question took three weeks.

There aren't very many other places in the world where this problem is so acute.

Do you have a link to that? Interesting case study. 3 weeks seems extremely fast if you include inspections.

Adjunct profs are not buying houses in Berkeley, they rent. It's a college town with the housing demand that comes with that. It's also less than a 10th the size of Munich.

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