The pillars areas are pretty small, but the foundation is massive. I think we have only seen like 5%-10% of it.I can't imagine Ishgard would have more land capacity than the other 3 areas combined, and they can't have more people who own houses than there is capacity in Ishgard tearing down their houses and rushing to get a plot and then some of them demolish their house only to get to Ishgard and none is available. I have a feeling the plots when they go on sale would be available to everyone to purchase... and then if you have a house elsewhere, you can do a transfer and if not, then you can build one. So I don't think it's as big of a deal as people make it out to be, and the ability to purchase a house in Ishgard will probably be the same whether you own a house already or not.
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