3 ms·
something I wonder about is that I'm pretty sure new builds target the more premium market. And I'm pretty sure that has mostly been true throughout history.
by monknomo 3y ago
something I wonder about is that I'm pretty sure new builds target the more premium market. And I'm pretty sure that has mostly been true throughout history.
But I wonder/think that in the past infill targeting $500 apartments would be an older house that gets subdivided. Like all those brownstones in NYC that were turned into SRO, or the mansions in Pittsburgh that were chopped into four-plexes, etc.
- oceanplexian 3y agoBecause there is no such thing as a "new construction low end market". The finishings of a house or apartment aren't the expensive part of construction. Look at the inputs to construction, there's no difference between low end and high end. Everything has to meet building code up to an extremely high standard due to modern building regulations. New laws mandate things like low-e glass, tougher insulation codes, solar panels (California requires them on new builds now), seismic, radon mitigation, AFCI, firewall requirements, etc. The average 50 to 100-year-old apartment has none of those things, and it would be illegal to build such a thing today.