But this is exactly the point - the market isn’t free, it’s being controlled. Primarily by companies that are buying up as many properties as they can.
As long ad there are at least two companies in an area, it will be less profitable for every extra property versus your competitor.
That at least makes hoarding harder, as anyone can come in to out compete the two duopolies as their first will be way more profitable than the established’s 11th.
In turn, keeping prices down, scaled by the increase in taxes per extra property
But this is exactly the point - the market isn’t free, it’s being controlled. Primarily by companies that are buying up as many properties as they can.
As long ad there are at least two companies in an area, it will be less profitable for every extra property versus your competitor. That at least makes hoarding harder, as anyone can come in to out compete the two duopolies as their first will be way more profitable than the established’s 11th. In turn, keeping prices down, scaled by the increase in taxes per extra property