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> Today's luxury apartment is tomorrow's affordable one. Housing ain’t exactly the same as the used car market. I don’t think there’s such thing as a house th
by xienze 7y ago
> Today's luxury apartment is tomorrow's affordable one.
Housing ain’t exactly the same as the used car market. I don’t think there’s such thing as a house that was once going for $1M+ that is now “affordable” unless it’s in a horrible state of disrepair.
- closeparen 7y agoThe crappy student apartments where I went to school housed upper-class families in their day (before suburbanization). It happens. Deteriorated grandeur has a certain charm. More to the point, there are plenty of homes that were affordable and in disrepair not long ago, that are now going for $1M+ in exactly the same physical shape. San Francisco’s problem is definitely not that its housing stock is too nice.
- klyrs 7y agoThat isn't even true of many cars. 20-30 year old luxury cars sell for tens of thousands -- which might be cheap or comparable to new low-end car, if you don't consider cost of ownership
- matchbok 7y agoAgreed, it is complex. I'd argue, though, that older apartments in nice neighborhood usually rent for less than brand-new ones.