In 2008, Smithsonian Magazine introduced us to the story of Apollo Diamond, a company using science and technology to create diamonds of such quality that “experts cannot differentiate them” from diamonds taking billions of years to form deep in the planet. “Nice stone, excellent color. I don’t see any imperfections.” “Where did it come from?” “It was grown in a lab about 20 miles from here.” “There’s no way to tell that it’s lab created.” Diamonds are rocks; they have no inherent value. Only because of demand, perhaps mostly flamed through advertising, and their rarity and difficulty to obtain, are diamonds deemed valuable by mankind. Similarly, houses have no inherent value. The cost of the materials and labor are meaningless. It’s the buyer’s dream, that vision of a perfect life in a perfect home and all of the anticipated events unfolding over a lifetime that has value. The buyer’s vision creates the value, not the structural compo…
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