The problem of prices under Labor theory of Value in capitalism

[SEKT]

The crucial denial of capitalist economist of marxism and specially the most radical capitalist pigs is that the Labor theory of Value merely ideological because under this theory you "can't" explain for example why two houses that contain the same labor on each of them their price is not equal in different places.

I would like to ask about your ideas of labor theory of value, if it is wrong, correct, has to be updated and why.

[BobKKKindle$]

why two houses that contain the same labor on each of them their price is not equal in different places.

Marx recognized that the value of a product is not always the same as the price at which the product is sold, such that even though two goods may have the same value (because they are produced using the same amount of labour) they may have different prices, due to a combination of factors, including variations in demand, and the structure of the market, as in monopolistic markets the producers are able to sell goods at a high price because there is no threat of market competition. However, Marx always insisted that prices would fluctuate around the value of a commodity, even though prices may rarely correspond exactly to the value:


You [Marx is arguing in response to the classical school of economics, which rejects the LTV] would be altogether mistaken in fancying that the value of labour or any of other commodity whatever is ultimately fixed by supply and demand. Supply and demand regulate nothing but the temporary fluctuations of market prices. [My Emphasis] They will explain to you why the market price of a commodity rises above or sinks below its value, but they can never account for that value itself.

Wages, Prices and Profit, Supply and Demand (http://www.marx2mao.com/M&E/WPP65.html#IV), Karl Marx