Supply and demand may actually operate in microeconomics, but as Sonnenschein, Mantel and Debreu demonstrated (mathematically!), micro is not a suitable as a foundation for macroeconomics.
Vienna has fewer homes per capita than Vancouver. By supply-and-demand logic, the Austrian capital should be more expensive. Yet prices are 50% lower. Why? Because over half of Vienna’s housing is non-market. The issue isn’t supply. It’s commodification. https://t.co/LBo9u2Iic1
— Canadian Dimension (@CDN_Dimension) March 26, 2026
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