https://threadreaderapp.com/thread/1513614861321728002.html
Basically it is very expensive to build with low margin to profit off and zoning laws are very tight
So the inventory is going to be all those old remodeled homes for next 30 years
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https://therealdeal.com/sanfrancisco/2022/04/11/socal-developer-flips-45-acres-eyed-for-mixed-use-in-livermore/