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> I assume we'd come out better with a larger value drop on more expensive properties So in other words, you think that more expensive homes value changes at t
by OrgNet 7y ago
> I assume we'd come out better with a larger value drop on more expensive properties
So in other words, you think that more expensive homes value changes at the same rate as a basic home? Did you look at any data to make that claim or just an educated guess? I'm thinking about getting data from the local property appraiser to check that out.
- Finnucane 7y agoThat kinds depends on market conditions, who is buying and what is driving the market. In cities like SF, Boston, and New York, the overall vacancy rate is very low but the luxury market is actually somewhat overbuilt, because that's what developers have the most incentive to build. In the Great Bubble, there was a higher vacancy rate and bigger disconnect between buying and renting, because there was so much construction that was driven by speculation.