Submitted by Walter Shields, Oct 31, 2006 17:47

While I agree with all your theoretical arguments founded in basic economic principles, I do not think the end result would be exactly as you hypothesize. Unfortunately, higher profits and greed are the most powerful motivators for many with the means to undertake such projects. To a large extent, this affects price nearly as much as supply and demand.

Furthermore, there is an enormous supply of people, especially young adults, that would line up to live in Manhattan at the right price point. The demand will always out pace supply in the world's most desirable places to live. Everyone wants to be where the action is...

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