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I disagree. The root cause is that homes are in part appraised (for mortgage purposes) on hypothetical rebuild costs, so this is a way to make those rebuild co
by RC_ITR 4y ago
I disagree.
The root cause is that homes are in part appraised (for mortgage purposes) on hypothetical rebuild costs, so this is a way to make those rebuild costs higher (and justify why you’re paying $500k for something that cost $40k in 1980).
If it weren’t car garages, it would be kitchens.
Cars are a separate problem, as evidenced by the extreme housing prices in some of America’s least car reliant cities (NYC, SF, Boston, DC, etc.).