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When a studio apartment costs $600,000 and a 2 bed apartment in the same building costs often double, there really isn’t a pathway to ‘step’ between them. The s
by PebblesHD 3y ago
When a studio apartment costs $600,000 and a 2 bed apartment in the same building costs often double, there really isn’t a pathway to ‘step’ between them. The same is true of houses, where the gap in prices between apartments and houses has never been wider.
It also doesn’t take into consideration that the would be homeowner is usually renting while saving their deposit, and that currently requires a larger share of their income than basically ever before.
- rainonmoon 3y agoIt also doesn't take into account that apartment dwellings are increasingly touted as the solution to supply. Speaking as someone who's trying to buy an apartment just because it'd be nice to have the security, I think it's delusional for anyone to expect to make money off these things when the supply of comparable housing is only increasing. Plenty of houses around me (Melbourne) have doubled in price in the last 10-20 years; anyone trying to use an apartment as a stepping stone to those is in for a rude shock.
- thriftwy 3y agoWow, that does indeed puts those expensive $300k, 100m² 3-bed apartments in central St. Petersburg into perspective.