3 ms·
What is your mental model for this then? If the "2BR shack" can be built from scratch for 300k, and the value for the lot + shack is $3M, then the land value is
by kevstev 7mo ago
What is your mental model for this then? If the "2BR shack" can be built from scratch for 300k, and the value for the lot + shack is $3M, then the land value is $2.7M. Most expensive real estate is land value, not actual structure value.
- some_random 7mo agoI see what you're saying, my point is that the principle thing driving it's value isn't the land nor the shack, it's the regulatory framework of the area.