It is clear that having that room exist is a priority for some people. The market doesn't have a will of its own or compels people to be efficient and produce returns (which, by the way, this room surely produces down the line).

The market is the cumulative wants and needs of the people matched against the cumulative offerings of the same people. Nothing more and nothing less. This room is clearly a need and a want for people and the market only prices it in a way that best reflects its cost when compared against all the other wants and needs and offerings.

I bet you can get people to pay it out of their pocket and not depend on the whims of a public organism.

It's not the same people. When it comes to land, it's the cumulative wants and needs of regular people being matched against the cumulative offerings of greedy paperclip maximizers.

When it's furniture I have the option to make my own furniture, that's my BATNA if IKEA tries to screw me, and so IKEA has to be better than that if it wants to make any money. I don't have that option with land because it cannot be created or destroyed.

Yes, it's just the people who's needs are met with it have no means to pay for it themselves. This just won't plug itself with this system of incentives and power.

> The market doesn't have a will of its own

Of course it does! It is possible to have a system where everyone is unhappy, yet incentivised to keep making things worse.

https://www.slatestarcodexabridged.com/Meditations-On-Moloch

or https://genius.com/John-steinbeck-chapter-5-the-grapes-of-wr...

>The market is the cumulative wants and needs of the people matched against the cumulative offerings of the same people

Ah, what about the market for human suffering? I mean, there are people that want other people to suffer, and I'm sure there are people that want to suffer, so this market should exist right?

The thing is the market exists between the laws and regulations we have, and regulations that prevent a public harm can sometimes disincentivize a public good. You sound like of libertarian so you'd just say "get rid of the regulations" which is all fine and good until YOU get ate by the bear.

You are presupposing that an efficient market emerges from a collection of dark patterns, coercion, and exploitative pricing, and turns these low quality inputs into an efficient market that creates overall beneficial results. Cool theory bro.