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but its not just house prices themselves if you look at a map of value of farmland in the US you will find that more accurately reflects the current house price
by fredgrott 8y ago
but its not just house prices themselves if you look at a map of value of farmland in the US you will find that more accurately reflects the current house price upward rise.
Example...in NW Indiana farm land is about $35k per acre which reflects the amount of revenue earned per acre. In California its 3 times that.
Its we are running out of farm land acre to feed the world that is driving up the house price in the US
- rileymat2 8y agoIs this some special case? I can’t find sources listing it that high.
- moorhosj 8y agoHousing can be built vertically.
- ben_w 8y agoAt significantly higher cost. If you’ll excuse a very broad brushstroke, this is why California — with lots of land — builds so many single-story buildings compared to the UK where there is so little land available for construction. (That the difference is in part due to policy doesn’t change that there is less availability). I’m looking forward to more automation in construction so that vertical is not significantly more expensive.
- moorhosj 8y ago==At significantly higher cost.== Significantly higher building costs, but lower land acquisition costs. Excerpt from a BuildZoom analysis: "The high cost of housing in expensive coastal metros is not driven by construction costs. It is driven by the high cost of land which, in turn, reflects a scarcity of zoned units, not a scarcity of land per se." https://www.buildzoom.com/blog/paying-for-dirt-where-have-home-values-detached-from-construction-costs https://www.buildzoom.com/blog/paying-for-dirt-where-have-ho... ==That the difference is in part due to policy doesn’t change that there is less availability== Except the current policy explicitly limits the availability, they are one in the same.