3 ms·

What if real property worked like cars? Like the land is worth half as soon as you buy it, something like that?

• jacobwilliamroy 7y ago
  Or maybe every structure built on a lot decreases its value? I just dont understand why real property should appreciate just by existing and being bought and sold. Isnt that just money for nothing? Doesnt that run counter to the old calvinist ethos of WORKING for money? What? Are people just going to live and sleep outside just because there's no more profit in drawing imaginary lines on the ground?
  • foogazi 7y ago
    > Or maybe every structure built on a lot decreases its value? That is actually how it works right now Structures depreciate - a new house is worth more than an old one (unless there is some unique historic/sentimental value)
    • Gibbon1 7y ago
      It's a bit tricky because part of the valuation is 'replacement value'. A problem with San Francisco is building now costs something like $600-1000 a sqft.
      • deleted 7y ago
        [deleted]