4 ms·
House costs just $20,000 but its nicer than yours
- nostrademons 7y agoIn hot metro areas the problem isn't the construction costs, it's the land. A 1/4 acre tear-down in Cupertino or Sunnyvale goes for a million dollars; an empty half acre goes for two million. It's hard to fix this: the root problem is that income is concentrated in a small number of areas that are constrained by geography, not that houses are expensive to build. In areas with plenty of land around well-dispersed businesses (eg. Houston or North Carolina), nice houses can be had for $200K. In areas with no income (eg. Detroit) nice houses can be had for $10K, but you wouldn't necessarily want to live there anyway.
- gamechangr 7y agovery interesting... Would you extend that observation to other areas : like Seattle? Where outside of California would you invest as a future place that's likely to increase like Mountain View (a have a few friends that live there that also say "it's the land"). Thanks!
- imtringued 7y agoIt wouldn't surprise me if it will costs me an additional $3000 per year just for the additional gas.