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... Eventually these houses will hold four families each, or they’ll go back to woods and fields, slightly formaldehyde-tainted from the lumber. ... It's inter
by apo 8y ago
... Eventually these houses will hold four families each, or they’ll go back to woods and fields, slightly formaldehyde-tainted from the lumber. ...
It's interesting to think of the future scenarios that would cause each outcome to play out:
1. Housing continues to skyrocket beyond any reasonable consumer inflation expectation. The only way to "get in" is to go in with one or more other families.
2. Housing prices begin to fall like so many prices throughout the rest of the economy. Nobody wants to take the risk of being stuck with an overly expensive thing they can't unload.
- andrewem 8y ago1 almost certainly requires zoning changes to allow multi-family housing in the places people hype these kinds of huge houses today. Don't count on the neighbors to support that, and keep in mind the ones with money will use that money to buy influence.
- jlokier 8y agoThat zoning change might raise local prices a lot. Neighbours may believe their own property will appreciate in value massively, and approve the zoning change just for that reason, especially if it's advertised that way to them. Never underestimate the ability of people to ignore everything else, when property price increases are at the forefront of their minds.
- WillPostForFood 8y agoThe accurate prediction would have been: Eventually these houses will sell at a lower price.
- bilbo0s 8y agoNo guarantee they will sell. No guarantee they won't. The idea of them going back to nature is not that far fetched. A lot of well off Detroit residents built large homes a long time ago. Most of them are in the loving embrace of Mother Nature right now. But it's also possible that someone comes in, bulldozes the whole thing, and then builds something else entirely. Anything could happen.
- WillPostForFood 8y agoI agree it is possible someone bulldozes it, but I guarantee it sells. It is a desirable location, unlike Detroit. That may change in 50 or even 10 years, but this is simply an example of people overvaluing their own work and taste. If someone does bulldoze it, it will probably be to build an even bigger monstrosity.