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Comment on CDs vs. NIMBY

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Not sure this home math is right. Usually home builders are profit seekers, so if they build in a neighborhood of 1MM homes, they will price aggressively against those comps and quality. Let’s say a home goes for half price, then those homes will get snapped up and eventually everything resells closer to the true valve. Given real estate rarely drops a lot in value, that price might be a bit below 1MM.

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