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If you own a SFH, you might even make a bundle someday by selling your land to a developer who puts in denser multi family.
by BenFranklin100 2y ago
If you own a SFH, you might even make a bundle someday by selling your land to a developer who puts in denser multi family.
- toomuchtodo 2y agoAdditional wealth does not appeal to me, affordable housing does. That bundle has very little value if I’m a contributor to the problem.
- BenFranklin100 2y agoBy selling your single family home to a developer who puts many homes on the same lot as your former SFH, you will be helping solve the problem.
- toomuchtodo 2y agoOnly if those multi family units are sold at a reasonable price, or rented at a sustainable rent. There is no guarantee this happens if I sell to a developer. It is guaranteed if I develop the property.
- BenFranklin100 2y agoIt doesn’t matter a whit what price the developer tries to sell them at or what a landlord tries to charge for rent. There is something called ‘supply and demand’ and it applies to housing as it does to everything else. More units expand the supply and put downward price pressure on existing units. The reason housing costs are so high is that there are too few homes and thus landlords and homeowners charge outlandish prices because people have little recourse but to pay since they are so few options.
- fragmede 2y agoyeah but you have to move to realize the value. put the money into the stock market instead and you can sell off the stock to realize the gains without having to move. except for the hottest areas (eg you bought in san Francisco in 2009), the sp500 beats real estate.