Housing cost has very little to do with construction and everything to do with location.<p>Real estate as an export is .. well, it&#x27;s a response to circumstances, I suppose, but is it really sustainable? After all, you can&#x27;t just make more land with the property &quot;within 1km of Central Park&quot;.<p>What happens when the majority of a city is owned by foreign landlords? Do you think that might distort its politics?