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The fact that homes appreciate and value is a bug in our system. If we allowed homes to be built freely and with less regulation, then old homes that actually d
by joelx 7y ago
The fact that homes appreciate and value is a bug in our system. If we allowed homes to be built freely and with less regulation, then old homes that actually decline in value compared to new homes.
- PascLeRasc 7y agoI agreed with your article and other comments here, but this is a bad take. There's no need for senseless tearing down and rebuilding, old homes are perfectly fine and often better-built than modern ones. Take a look at the mid-rise apartment building, I'm sure you have several wherever you live: https://www.bloomberg.com/news/features/2019-02-13/why-america-s-new-apartment-buildings-all-look-the-same https://www.bloomberg.com/news/features/2019-02-13/why-ameri...
- joelx 7y agoGood point, I didn't think this comment through as well as I should have.
- prepend 7y agoPerhaps, but homes are built on land. We’re not making more land and it will always appreciate. Also building materials and labor increase in price with inflation so homes will increase in absolute price even with proper regulation (which no country has ever succeeded in accomplishing).
- perl4ever 7y agoNot all homes appreciate over inflation. In fact, I would assume that on a long enough time horizon, everything matches inflation.