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In places with very high supply or very low demand, the price of housing can be far below the cost of construction, which comes with its own issues
by timerol 5y ago
In places with very high supply or very low demand, the price of housing can be far below the cost of construction, which comes with its own issues
- dionidium 5y agoThe price can even go lower than the cost to remediate the property for residency. This is a bit of a tail risk. This has never happened to most U.S. neighborhoods, but the risk is not zero. Getting loans to build on these lots is nearly impossible, which contributes to their continued decline.