Now those homes slowly rot and lose value and become dangereous to live in.
As a result rich people can’t run airbnbs. Capitalists are losing in long term for pride/greed/incompetence.
At this rate they will require government subsidies breaks to rebuild them later. All because those selfish low-to-middleclass people aren’t taking 50 year mortgages.
To an extent. But I can buy a house for like 25% of the typical cost around here for a 1986 property versus a recent build, even with comparable location and land area.
Varies by locale, in LA the value of structures are likely a rounding error, in the middle of nowhere, the structure is nearly everything.
Now those homes slowly rot and lose value and become dangereous to live in.
As a result rich people can’t run airbnbs. Capitalists are losing in long term for pride/greed/incompetence.
At this rate they will require government subsidies breaks to rebuild them later. All because those selfish low-to-middleclass people aren’t taking 50 year mortgages.
the houses don’t lose value. the land goes up faster.
To an extent. But I can buy a house for like 25% of the typical cost around here for a 1986 property versus a recent build, even with comparable location and land area.
Varies by locale, in LA the value of structures are likely a rounding error, in the middle of nowhere, the structure is nearly everything.
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Doesn’t cost much to keep some upkeep temp in the house, that keeps away mold at least