“People like to drink certain kinds of beer” and “some people don’t drink beer often” are not arguments against supply and demand driving beer prices.

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tkel 5 hours ago | parent [-]

Prices in massively inefficient markets do not follow the supply + demand equilibrium. Beer is not an inefficient market. You're doing the absurd comparison.

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pocksuppet 5 hours ago | parent [-]

It's more correct to say supply and demand still drive the overall average, but in a high-friction market of unique items, every single case is still a unique case. It's not like moving wheat bushels or RAM chips. When they sell oil, they mix up all the oil from different producers in the same reservoir, in the same tanks. Electricity travels in the same wires. Housing is nothing like that.

	▲	hunterpayne 29 minutes ago \| parent [-]
		"they mix up all the oil from different producers in the same reservoir" Only when avoiding sanctions, not normally. And housing does follow economic principles no matter how much you wish that wasn't so.