The biggest mistake the "regardless of price, Auckland will always go up due to...(insert argument)" is that they assume the demand is ineslastic, and that it can't be decreased due to price rises. This is 100% incorrect. There are a large assortment of alternative options available to buyers if Auckland house prices increase too far, and there is absolutely nothing that can stop these alternative options being chosen.
this truth is eventually evident for every market in the history of mankind - where alternatives to x exist, they will be chosen when price of x exceeds to high a price.
this truth is eventually evident for every market in the history of mankind - where alternatives to x exist, they will be chosen when price of x exceeds to high a price.
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