How much housing do we need?

Price and value are psychological phenomena with no fundamental basis in reality. The supply of housing and populations of a given area are material, and have obvious intrisic relationships irrespective of how one chooses to rearrange the numbers on a balance sheet.

The author seems convinced that when money and essential material needs are in conflict, it must be the physical world which bends to suit our shared delusions. It might be comical, were it not such a popular notion.